First Fix & Flip in Northwest Georgia (Off Market Find)

[Tyler Payne]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $144,000
Cash invested: $50,000
Sale price: $214,500

Single Family home in Fort Oglethorpe, GA. Off-market deal.

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

My partner and I originally bought this property to rent it out, but the market got hot during the spring and we decided to just fix it up and sale it.

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

It was an off-market deal from a friend of ours. They approached us about wanting the property because the father had recently passed. We decided it was the right time for us to purchase something and get our real estate portfolio ramped up.

How did you finance this deal?

We got a loan through Summit Funding.

How did you add value to the deal?

We had the interior/exterior freshly painted, new floors, new showers, removed a wall to open it up, new cabinets, and new appliances.

What was the outcome?

We ended up selling the property 7 months after purchasing it. Took us longer than we would have like because it was our first flip and weren't really sure what we were doing.

Lessons learned? Challenges?

Don't try to do it all yourself. Leverage other people's talents and skills.

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

Yes I did.