My First Flip. Don't do more work than you need to.

[Joshua Poitras]

Investment Info:

Single-family residence fix & flip investment in Roslindale.

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

This was actually my first flip, which was mostly successful. I learned a lot of valuable lessons. The Lessons Learned.....Always confirm square footage. I also learned to understand how to grandfather out of date construction and learned the importance between making profitable repairs. I learned how to consider snow removal during constFinally, I learned how important it was to not run a saw after 7 pm.

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

I wanted to make some money. This was a bank REO i thought I could take advantage of.

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

MLS Bank REOs

How did you finance this deal?

Hard Moneyu Loan w/ Personal Investor

How did you add value to the deal?

Ran the project and contractors.

What was the outcome?

Semi-successful flip. Made enough to put it back into next deal which was awfully mis-budgeted.