Investment Info:
Single-family residence fix & flip investment.
Purchase price: $57,500
Cash invested: $30,000
Sale price: $128,000
3 Month fix and flip. Profit $27,500. Leveraged a hard money loan.
What made you interested in investing in this type of deal?
Midwest B/C class single family flips
How did you find this deal and how did you negotiate it?
Wholesaler and negotiated with hard facts once my contractor provided a SOW/Bid.
How did you finance this deal?
Hard money loan
How did you add value to the deal?
Complete cosmetic renovation
What was the outcome?
$27,500 profit in under 90 days
Lessons learned? Challenges?
Manage your contractors tightly, the finishing touches always take the longest. Ensure you really inspect the property before you list. Make sure you have all potential expenses forecasted before purchasing.
