920 Poplar Dr. Flip Project

[Ryan Sparks]

Investment Info:

Single-family residence fix & flip investment in Saint Louis.

Purchase price: $208,000
Cash invested: $85,000
Sale price: $327,000

Cape Code meets Farmhouse. 4BD, 2.5BA single-family residence. Purchased home through a wholesaler. Took 4 months to complete extensive rehab (bath & kitchen updates, added office, refinished hardwood floors, paint, landscaping, etc.). Sold in 5 days over list.

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

Career pivot, and desire to flip a house & bring it back to life for the next family.

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

Networking & wholesaler.

How did you finance this deal?

Cash & HELOC.

How did you add value to the deal?

Updated kitchen & baths, added 4th bedroom & office space. Also acted as the listing agent.

What was the outcome?

Sold in 5 days over list. Closing on 9/7/21.

Lessons learned? Challenges?

Deals are made or broke during the acquisition. I paid too much to acquire the property and my rehab budget was blown ($25K over). In the future I will use the math to remove the emotion from my decision making.

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

West Community Credit Union for HELOC.