Investment Info:
Single-family residence fix & flip investment in Titusville.
Purchase price: $115,000
Cash invested: $40,000
Sale price: $195,000
My first real investment property using private money.
The flip was all done by me personally, which caused it to take much longer than expected! but I learned many valuable lessons along the way, as well as breaking the barrier from REI enthuist, to a true investor.
I'm very grateful for this opportunity.
What made you interested in investing in this type of deal?
My ability as a contractor as well as my desire for REI.
How did you find this deal and how did you negotiate it?
On the MLS, and with my local agent.
How did you finance this deal?
Private money.
How did you add value to the deal?
Complete gut and remodel
What was the outcome?
>$10,000 profit. Not great at all for the amount of work, but absolutely worth the lessons I learned.
Lessons learned? Challenges?
Negotiation, working with contractors, being more deliberate about my plan with my agent/investor, and time management.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Kevin Degnan, Merrit Island FL.
