The FIX & FLIP I didn't have to FIX to flip - Toy House!

[Jorge P.]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Bronx.

Purchase price: $200,000
Cash invested: $40,000
Sale price: $425,000

I purchased this property from an Absentee Owner who was just ready to sell.
- "If your persistent & patient, you will arrive at your desired destination"

The Idea was to renovate the property and put it back on the market - however... I was made an offer 2 month after closing which I could not refuse. We bought it for $200k & they offered me $425,000. I took the offer."

What made you interested in investing in this type of deal?

I had a marketing campaign specially targeting these types of sellers. I was happy to see it come in :-)

How did you find this deal and how did you negotiate it?

The lead was generated via our direct mail marketing campaign .

How did you finance this deal?

Hard money

How did you add value to the deal?

The property was full of vintage toys, building materials & junk. I cleaned & cleared the property to broom clean condition and it REALLY helped the property shine. But in short, all I did was clean it out.

What was the outcome?

I was able to sale the property for a $225,000 Dollar profit two months after buying it - without doing any renovation.

Lessons learned? Challenges?

If you buy a good enough deal - your exit strategies multiply.