Single-family residence fix & flip investment.
Purchase price: $99,800
Cash invested: $150,000
Purchase Price: $99,800 + $3200 Closing cost = $103,000
Description: The property is 10,000 SqFt, has a 3/1 SFH, located in a fast growing area in Miami.
Even though just the fix-and-flip nets near $100,000, the property is being split into two separate lots, leaving me with a vacant 5000 SqFt lot which sells for $120,000.
Total Investment: $150,000
Total Net Profit: $205,000
What made you interested in investing in this type of deal?
How did you find this deal and how did you negotiate it?
Several weeks of nonstop door-knocking.
How did you finance this deal?
Cash. I Brought a partner to the deal.
How did you add value to the deal?
Full interior rehab.
What was the outcome?
Great experience and great profits netting over $200,000.
Lessons learned? Challenges?
Consistency is everything. It was after hundreds of doors knocked and rejections until I found this hidden gem.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an Investor & Licensed Real Estate Agent, I work together with clients who want to invest and search for deals like this all over Miami.
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