All Forum Posts by: Edward Zamora

@Steven Wesolowski does this one need any foundation and plumbing repair?

Hello @Bill Lockhart, is the meetup still happening June 12th 6pm at Bar 301?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $325,000
Cash invested: $5,000
Sale price: $389,900

This was a quick wholetail deal! Trash out, touch up paint, replace carpet in 1 bedroom, replace 1 light fixture, replace burned out light bulbs, lawn service, power wash porches driveway & sidewalks, make ready cleaning, staging and on the market in 2.5 weeks

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

Extremely light rehab and could get on the market very quickly

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

Wholesaler posted on FB

How did you finance this deal?

Private money lender

How did you add value to the deal?

Trash out, touch up paint, replace carpet in 1 bedroom, replace 1 light fixture, replace burned out light bulbs, lawn service, power wash porches driveway & sidewalks, make ready cleaning, staging

What was the outcome?

Property sold to conventional buyer after 37 days on the market

Lessons learned? Challenges?

We had to reduce the price $20K before we were able to receive an offer. We should've factored in the likelihood of the buyer asking for seller concessions in today's market which they did.

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

We use a flat fee listing agent to save on standard seller commission which allows us the option to offer a higher commission to the buyer's agent