My First Fix and Flip and the Valuable First Lessons Learned.

[Joshua Poitras]

Investment Info:

Single-family residence fix & flip investment in Roslindale.

Purchase price: $280,000
Cash invested: $63,866
Sale price: $390,000

My First REO joint venture flip

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

I had paid money to learn the 70% rule from a very experienced investor and was eager to apply my teachings.

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

I found this deal by shopping on the MLS for REO property.

How did you finance this deal?

Hard Money Loan at 3, 13% and Private investor Joint venture agreement. 50/50 Profit.

How did you add value to the deal?

Manage the project, Represented as an agent, Do some of the work myself.

What was the outcome?

Fairly Successful.

Lessons learned? Challenges?

Must learn appropriate region construction costs.
Stop Work Orders
Make beneficial repairs and just tasteful ones.

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

myself, investor and lender.