Starting to do more on this platform, so here's a deal

[Lee Nugent]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $55,000
Cash invested: $43,000
Sale price: $180,000

This one was a simple ranch style 3/2, cosmetic rehab. The numbers were good, with a projected sales price of 150k. The market was strong so we thought we would go higher at 170k on list; and within 2 days, had a 180k offer on the table.

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

We have been flipping for about 5 years; targeting high margins and keeping a number of other properties as holds.

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

Someone brought the deal to me in exchange for some coaching. The seller wanted 70k; we ended up on 55k

How did you finance this deal?

Cash purchase

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Sold for a net profit of 64k after fees (Including paying myself a listing agent commission)

Lessons learned? Challenges?

This was pretty much business as usual

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

I gotta say, the listing agent was amazing to work with (I was the LA)