Single-family residence fix & flip investment in Medford.
Purchase price: $100,000
Cash invested: $20,000
Sale price: $185,000
This is a fix and flip from a Probate List and was a vacant home!
What made you interested in investing in this type of deal?
it was a no brainer, I could fix it and make money!
How did you find this deal and how did you negotiate it?
I found it through mailers to vacant homes!
How did you finance this deal?
through a private deal with the owner.
How did you add value to the deal?
by fixing the property up and helping the owner sell the property, giving him $100,000 of the proceeds.
What was the outcome?
It was very profitable
Lessons learned? Challenges?
I learned next time, Im going to get a contractor and or a crew to help me fix it up rather than me managing it because I was there doing the work, my progress of doing other deals halted.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I had a realtor help sell it and she was awesome.
Sounds like a wonderful first time experience! Getting either a general contractor or subcontractors in place for your next flip will only help you. You are well on your way!
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