This was my first flip!

1 Reply

Investment Info:

Single-family residence fix & flip investment in Atlanta.

Purchase price: $335,000
Cash invested: $100,000
Sale price: $465,000

This was my first flip in late 2017

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

The schools were good, house was "granny chic" and the numbers looked like they would work. I saw the potential to add a laundry and bathroom to add value.

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

It was listed on the MLS, I saw it when it was originally listed, then when it came back on the market and had a price reduction. I figured the seller would be motivated.

How did you finance this deal?

Cash

How did you add value to the deal?

Added a laundry and bathroom. Renovated all bathrooms and the kitchen, opened up the living area for more modern day living.

What was the outcome?

I made money! And became obsessed with real estate investing

Lessons learned? Challenges?

Lessons learned- use a licensed plumber and electrician. Even if your GC has experience. That will come back to get you in the inspection.

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