First Fix and Flip in Cape May

[Leigh Anne Walker]

Investment Info:

Single-family residence fix & flip investment in Cape May.

Purchase price: $220,000
Cash invested: $80,000
Sale price: $380,000

Smoke damaged, had been empty for years. Needed a ton of work and love.

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

I love to make things that are no longer used and unloved into forever homes. I gave it life, a face lift, and a family again.

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

I searched everywhere. Driving and writing down all junky houses that had potential in good neighborhoods.

How did you finance this deal?

Hard money loan.

How did you add value to the deal?

Creativity, sweat equity, project manager.

What was the outcome?

A gorgeous house! A happy family.

Lessons learned? Challenges?

Not to overspend on things that won't increase the sale price. Easy to get carried away on the fun stuff!