Investment Info:
Single-family residence fix & flip investment.
Purchase price: $130,000
Cash invested: $35,000
Sale price: $210,000
My first flip! This journey was very rewarding and I encourage any interested flippers who may be sitting on the fence to jump right into action. I learned so much and is already looking for my next project.
What made you interested in investing in this type of deal?
To gain viable experience and make some money while doing so.
How did you find this deal and how did you negotiate it?
Created this deal from past relationships, previous client.
How did you finance this deal?
Hard money
How did you add value to the deal?
My realtor experience helped me tremendously through all stages.
What was the outcome?
targeted sell price was met.
Lessons learned? Challenges?
It took me 30 days after closing to hire a contractor. This was one of the biggest challenges however, I dont regret the due diligence that it took to hire the right person. In the end, I got the goals accomplished on all fronts except timeline (closed 1 month past original deadline).
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Contractor Randy Jefferson was amazing!!
