All Forum Posts by: Ashleigh Stimpson
Ashleigh Stimpson has started 2 posts and replied 2 times.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $100,000
Cash invested: $35,000
Purchased for 100k, Rehab 40k, resale for 190k. Net after fees and expenses 40k
What made you interested in investing in this type of deal?
I have always been interested in RE, this deal worked well as a retail flip.
How did you find this deal and how did you negotiate it?
Off market deal through my agent
How did you finance this deal?
Kiavi lending
How did you add value to the deal?
New HVAC, Hot water heater, flooring, appliances, cabinets, lighting and hardware.
Post: 1st deal I ever made
- Posts 2
- Votes 2
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $84,750
Cash invested: $5,000
Sale price: $115,000
3/2 just outside of memphis, that I used an FHA loan on.
What made you interested in investing in this type of deal?
I wanted to buy a property I could live in for 2 years while I rehabbed the property
How did you find this deal and how did you negotiate it?
I used realtor.com to find the property, and paid over asking with the stipulation that they cover closing costs.
How did you finance this deal?
I used a FHA loan through my local bank
How did you add value to the deal?
I changed out lighting, flooring and appliances
What was the outcome?
I net profited 15k on top of living there for free.
Lessons learned? Challenges?
I could have found a property with more room for appreciation
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with a newer real estate agent to broker the buy and sold by owner, and a personal family friend worked at the bank I used to prepare the loan.