Richmond Ave Flip Buffalo New York
Investment Info:
Small multi-family (2-4 units) fix & flip investment in Buffalo.
Purchase price: $189,000
Cash invested: $100,000
Sale price: $400,000
Fire damaged home, completely rebuilt the back of the building then sold privately.
What made you interested in investing in this type of deal?
I like to buy very distressed homes.
How did you find this deal and how did you negotiate it?
Personal Friend owned it.
How did you finance this deal?
Cash
How did you add value to the deal?
I added value to the deal by rebuilding the back of the home to be able to sell for more, it was no longer a total loss after my company got involved.
What was the outcome?
Positive cash Flow.
Lessons learned? Challenges?
None
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No