first "flip" was our primary residence we bought off my in-laws

[Brandi Jornov]

Investment Info:

Single-family residence fix & flip investment in Germantown.

Purchase price: $240,000
Cash invested: $10,000
Sale price: $370,000

We lived here for 14 years. Worked on it for what felt like every day. completely gutted every room and replaced all major appliances and even replaced roofs, siding, windows, well, well pump, doors, etc. A complete reno. I'm very proud of what my husband and I accomplished, but I would NEVER live in the house I was flipping again. NEVER. LOL

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

I've always had an interest in real estate and trying to make money with it.

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

we actually bought from my husband's parents (my in-laws) and made use of a GOE so we had a very low down payment

How did you finance this deal?

conventional financing with a GOE for most of the down payment

How did you add value to the deal?

Most of the repair work was done by myself and my husband

What was the outcome?

the house turned out beautiful and we are very proud of what we accomplished and the financial gain. It is now giving us the courage to branch out and try investing a little more seriously as a business.

Lessons learned? Challenges?

living in the constant construction was rough and I would not recommend it with a property that needed as much work as this one did. We also had 2 children there, and I don't recommend that either LOL jk jk.

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

no