Second successful fix/flip

[Kayla Huiras]

Investment Info:

Single-family residence fix & flip investment in Sherwood.

Purchase price: $75,000
Cash invested: $80,000
Sale price: $197,000

Contributors:
Donnie Lott

Our second fix/flip! This project was a lot more house than the last one weighing in at 2,738 sq. ft. We are very proud about this choice. Again, we ran our numbers accordingly but went over budget because of the unforeseeable. Still going to make money though! The next door neighbors purchased the property and they are very happy with the turnout!

What made you interested in investing in this type of deal?

Largest home in the area at a reasonable purchase price and great location.

How did you find this deal and how did you negotiate it?

MLS ~ Not much negotiating, gave them asking price in a multiple offer situation.

How did you finance this deal?

Hard Money

How did you add value to the deal?

We use premium products that still make sense for our budget.

What was the outcome?

Happy neighbors and new home owners! We made money. Life is good.

Lessons learned? Challenges?

A LOT! Haha Contractor challenges for sure. Always check completed work when ANYONE wants to get paid, definitely do not pay ahead of time for anything.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the realtor.