Fix and Flip under contract

[Justin Campbell]

Investment Info:

Single-family residence fix & flip investment in Great Falls.

Purchase price: $100,000
Cash invested: $35,000

The property was listed for $140,000, but had been on the MLS for over 40 days. It also had significant foundation issues. I offered $100,000, and put $35,000 of rehab work into it including the foundation. A total rehab: all flooring, landscaping, paint, appliances, bathroom, etc. Currently under contract with a back up offer.

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

I am making an attempt to create enough cash flow to purchase more buy and holds. This property met that criteria.

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

It is close by my house and had seen the sign in the yard for weeks.

How did you finance this deal?

Equity partner funded the purchase.

How did you add value to the deal?

Oversaw the rehab, paid for rehab expenses and offered 20% of net profits.

What was the outcome?

It is currently under contract.

Lessons learned? Challenges?

A lot! Choose contractors wisely. Manage the flow of rehabs. Much more!

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

Greg Selmon with Keller Williams is selling the property- a great agent,