Just closed my 25th transaction!
I've been investing since 2009 in a mixture, of flips, buy and hold and live in flips. The market in Brevard county Florida has been increasing in activity and prices. There's also lots of new players wanting to flip houses, especially inexpensive ones.
This being my 25th transaction feels like a landmark so I wanted to tell you guys about it. I'd been looking hard for a deal and came across a FSBO on craigslist. It was a 3 bed 2 bath palm bay house built in 1958. I negotiated the purchase price to $32k cash and closed quickly. The house had potential, I had 3 exit strategies, 1. fix and flip, 2. fix and hold as a rental, 3. sell to another investor. My first choice was to try to flip to another investor. I shopped it around to my REI group and other investors I know. After a couple weeks of no solid offers, I listed it on the MLS for $46k. The phone lit up and had 7 showings the first day. One was a truck driver who just moved here from Ohio. He wanted a home to live in with his family and fix up. They made me a cash offer of $45k and I accepted! What I thought was going to be a wholesale type deal ended up going to an end user and everyone is happy!