First fix and flip property in Vallejo

[Patrick Brooks]

Investment Info:

Single-family residence fix & flip investment in Vallejo.

Purchase price: $278,500
Cash invested: $102,000
Sale price: $650,000

Complete fixer with a death in house.

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

It was a good opportunity that didn’t want to list home on mls so I offered with the other investors the sellers showed it too.

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

I was running by and saw people
Cleaning out in hazmat suits. So when I got home I searched tax records and mailed them a hand written letter. Called me a week later

How did you finance this deal?

Paid cash and partnered with another person

How did you add value to the deal?

Compete renovation plus I brought deal to contractor

What was the outcome?

Long rehab

Lessons learned? Challenges?

Permits and spending too much time at property doing work myself. It affected my real estate business.

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

I am the real estate agent.