Our Daphne, AL Flip!

[Maura McGraw]

Investment Info:

Single-family residence fix & flip investment in Daphne.

Sale price: $255,000

Newly updated Creole style home with a completed basement in the sought after Lake Forest Subdivision! Nestled in a wooded lot across the street from the golf course, you will enjoy sitting on the front porch relaxing or sipping coffee on the brand new back deck. Upon entering, you will be graced with a large family room with vaulted ceilings making this spacious room feel even larger. Enjoy new granite countertops throughout the home, with fresh paint and flooring. Message us for more details!

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

I had been hoping to find a property to flip in the Lake Forest Community because it is a great subdivision, in a great school district, with great amenities, so people are always wanting to live there. Banks also like financing properties in this area ;) Flipping houses is the main driver in our business and we wanted to get a project going in Baldwin County. So, we had been actively working with realtors and wholesalers to find an opportunity like this.

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

A trusted wholesaler brought this property to us.

How did you finance this deal?

We financed this deal using a construction loan.

How did you add value to the deal?

We invested approximately $40K into the rehab of this property and rebuilt the back deck, repainted the exterior, conducted siding repair, installed new flooring, repainted the entire interior, and updated the kitchen and bathrooms.

What was the outcome?

This property is currently under contract and has received a lot of positive feedback.

Lessons learned? Challenges?

This was our first project in Baldwin County, so we were working with a lot of new vendors and contractors. Although the project went relatively smoothly, there were many challenges including a language barrier and some timing and overlap issues with the contractors.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes--We worked with wholesaler Darrell Wilkins and realtors Lauren Jones and Stacy Sloan.