Investment Info:
Single-family residence fix & flip investment.
Purchase price: $72,000
Cash invested: $35,000
We purchased this home off market and have fixed it up. We put $35,000 into the home and will be putting it on the market soon. We hope to get $150,000 for it. We purchase homes in the urban core but have the mindset to present them with amazing customer service, staging, professional photography and marketing. No one else presents the properties like we will. We believe everyone deserves a high level of service regardless of price point and neighborhood.
What made you interested in investing in this type of deal?
We love the urban core of Kansas City. It is our goal to create a community where the residents can feel safe and prideful of their home and their neighborhood. It starts with us fixing the home and presenting it in a way that will make potential buyers feel good about purchasing their first home and feeling like their hard work has payed off!
How did you find this deal and how did you negotiate it?
I have a partner, Dederick Kelly, that works the urban core and has relationships with the city councilman, coaches, barbers, and the little old lady who lives on the corner. He knows all that goes in the neighborhood, good and bad.
How did you finance this deal?
We financed with our own money.
How did you add value to the deal?
I provided the cash for purchase and the sales team to sell the home. Dederick found the property and managed the rehab.
What was the outcome?
The home will be on the market soon!
Lessons learned? Challenges?
We initially just put it out here with no staging, iPhone photos, etc. WE assumed the market was hot and it would go quick. But after many conversations we have pivoted and are using a top producer agent that has a high standard to create first class marketing, photos, staging, etc. I sell homes in southern California and I spend thousands of dollars on a house to go to market. We are going to create that same brand in Kansas City but on a smaller scale but similar result.
