Investment Info:
Single-family residence fix & flip investment in Peachtree City.
Purchase price: $400,000
Cash invested: $400,000
Worked with partner in Georgia to rehab and flip over a dozen properties from 2018 to 2021. All Single Family Residence. Goal was to fix & flip, though some were then held as rentals.
What made you interested in investing in this type of deal?
I always wanted to fix & flip properties. After meeting my partner out-of-state, it made sense to partner together on rehabs. Though sadly I couldn't be as involved in the day to day decisions since I lived out of state from the properties. But I'm still glad to have been a part of them and learned much in the process. I live in Seattle, so rehabbing in this area is too stressful.
How did you find this deal and how did you negotiate it?
I met my partner though another investor colleague of mine. I was able to provide capital, so they focused on the day to day.
How did you finance this deal?
Cash
How did you add value to the deal?
Providing capital and some input also.
What was the outcome?
Most of the rehabs were then sold for decent profits, and some we adjusted the contracts because my partner wanted to keep some as rentals. This aspect was a bit stressful because it added more time to these particular projects because my capital was tied up quite a bit longer than I expected.
Lessons learned? Challenges?
It's okay to say no. My partner wanted to keep some as rentals, but after the delays because of the pandemic, adjusting our contracts again and again to extend time was stressful for me.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no.
