Live in Flip In West Chester, PA - Check out the video!

[Rob Lawrence]

Investment Info:

Single-family residence fix & flip investment in West Chester.

Purchase price: $397,500
Cash invested: $50,000

Did a live in flip in West Chester, PA. Gotten a really strong equity gain, and would estimate it would sell for $600k or more right now.

You can check out the video of my flip here. This is the short version, but the whole thing is vlogged on my YouTube channel.

https://youtu.be/LgrDIw90u7s

Im a realtor in the area, and I help people do the same thing!

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

My wife wanted us to find a place to live before we started doing rental properties. Helped that this house was across the street from one of my best friends.

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

It was on the MLS. I had competition, but gave a strong offer that closed really quick, 19 days, and I skipped inspections.

How did you finance this deal?

My wife and I put 15% down, and got a normal conventional loan.

How did you add value to the deal?

We did extensive renovations, but I did a lot of the work myself. I also have good contractor relationships.

What was the outcome?

We have made about $150k so far and love where we live.

Lessons learned? Challenges?

Things are going to cost more than I expect. I also didn't see COVID coming which delayed some contractors. I also bought the home while having a 5 week old baby.

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

I represented my wife and in the transaction.