My Most Profitable Flip Yet

[Lauryn Meadows]

Investment Info:

Single-family residence fix & flip investment in Ironton.

Purchase price: $40,000
Cash invested: $70,000
Sale price: $179,900

Fix and flip in a rural and desired part of our community.

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

This was a foreclosure that had been on the market for a while. We made multiple offers over a few month period- at the same asking price. Finally we got the property!

How did you finance this deal?

We used our HELOC and our cash.

How did you add value to the deal?

The house had been on and off the market for a while, but the septic was on the next door neighbor's property rather than on the property of the house (a foreclosure). With that being said, it did not qualify for conventional financing, making the cash investment too high for most in the community.
We ended up negotiation with the neighbor and bought the parcel of land that the septic was on. This was cheaper than installing new, plus gave the buyer more yard.