Very first fix & flip

[Jameliah Cunningham]

Investment Info:

Single-family residence fix & flip investment in Baltimore.

Purchase price: $89,000
Cash invested: $150,000
Sale price: $205,000

3 bedrooms and 2 full baths. 2 floors with unfinished basement. All appliances stainless steal.

How did you finance this deal?

Cash

How did you add value to the deal?

Updating the amenities.

What was the outcome?

Sold in one day. Went 5k over asking.

Lessons learned? Challenges?

We should have done more research with a contractor prior to purchasing. We could have gotten it for cheaper or avoided the unpredictable headaches. We also could have gotten a better offer with a better realtor.