First Flip - Jackson MI

[Nadia Chase]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $42,000
Cash invested: $50,000
Sale price: $144,900

I found this house on social media! the seller was in a hurry to sell for cash and we were able to work with that.

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

The price and comparables.

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

Social media, did not negociated, the seller wanted a number I was ok with.

How did you finance this deal?

Cash.

How did you add value to the deal?

New floor, Painted counter tops, New paint, new deck, lots of cleaning, new cealings, new appliances, new countertops. reglaced bathtub, painted vanity.

What was the outcome?

We made profit of around 35k after all expenses.

Lessons learned? Challenges?

Find better contractors that won't subcontract others.

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

I am a real estate agent. We did not use a lender, we did cash.