My first... Been a while
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $60,000
Cash invested: $80,000
Sale price: $185,000
Full gut top to bottom. Mold. Water damage. Floors.. Walls. Appliances...fixtures...tile...you name it.. The whole 9 yards went into this one.
What made you interested in investing in this type of deal?
It was multi family and I was able to go in COD to start.
How did you find this deal and how did you negotiate it?
Father came across opportinity
How did you finance this deal?
Hard money escro
How did you add value to the deal?
Offered amazing return that couldn't be refused
What was the outcome?
Deal made 40k
Lessons learned? Challenges?
Always add to your initial estimate... And prepare some emergency funds for surprises and unexpected situations.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Na