Investment Info:
Single-family residence fix & flip investment.
Purchase price: $230,000
Cash invested: $330,000
In the process of fixing and flipping a 1600sqft residential home in the Madera Ranchos. We are completely remodeling the interior, opening walls, remodeling bathrooms and kitchen, updating exterior shed and digging a new well.
What made you interested in investing in this type of deal?
Great way to stack cash and build up money to purchase rentals
How did you find this deal and how did you negotiate it?
Past client brought me the deal from their family. Negotiated in person over a few weeks (thought took years to get the timing right).
How did you finance this deal?
Private money.
How did you add value to the deal?
Remodeled, dug new well, finished out pole barn
What was the outcome?
Still in progress
Lessons learned? Challenges?
Digging wells in Central California is tedious and expensive. Plan accordingly
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am selling the property with Jason Pritchard a local investor who own Pinnacle Investments Fresno
