Single-family residence fix & flip investment.
Purchase price: $72,500
Cash invested: $120,000
Sale price: $297,000
Single family, fix/ flip & refinance
What made you interested in investing in this type of deal?
Neighborhood, location continues to improve with City bike trail extending close by. ( Swamp Rabbit Trail)
How did you find this deal and how did you negotiate it?
Retiring investor liquidating portfolio, an agent brought the deal.
How did you finance this deal?
Local credit union
How did you add value to the deal?
What was the outcome?
Refinanced 70k cash out of property.
Lessons learned? Challenges?
Biggest challenge was timing and the difficulty my GC had finding fairly priced subs. Job delivered 3 months late.
Very nice! So did you flip it and sell, or refinance and hold onto it as a rental?
@Graham Harvey thanks man. Cash out refinance, will sell it after a few of the announced commercial developments close by are completed.
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