67th Street Fix & Flip

[Andrew Ross]

Investment Info:

Single-family residence fix & flip investment in Kansas City.

Purchase price: $34,000
Cash invested: $60,000
Sale price: $130,000

Full rehab project w/foundation, plumbing, and everything else - full gut job.

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

Bought this from a mortgage foreclosure auction.

How did you finance this deal?

Cash.

What was the outcome?

$30k + profit in 7 months.

Lessons learned? Challenges?

I took this project on before I had any financing and had all my cash tied up for almost 7 months! Having financing partners going into the deal would have allowed me to work multiple deals at once.