Investment Info:
Single-family residence fix & flip investment in Whittier.
Purchase price: $285,000
Cash invested: $75,000
Sale price: $490,000
Single Story Home that was not in too bad of shape this one was an awesome find for us. The owners wanted to move out of state and wanted a quick cash sale we were able to negotiate a deal that made sense for them and us it was a quick fix and flip that netted a grate return
What made you interested in investing in this type of deal?
I wanted to do a flip in LA County and this one was great on to start with
How did you find this deal and how did you negotiate it?
I found it through a realtor who had it as a short sale and we were able to get the bank to approve our offer
How did you finance this deal?
I used Private money
How did you add value to the deal?
We painted inside and out and updated the flooring and kitchen
What was the outcome?
We sold it in less than 5 months and it was a great return for us
Lessons learned? Challenges?
Always get multiple bids and don't go with someone cheaper it's not always the best way to go
