Single-family residence fix & flip investment in Miramar.
Purchase price: $197,000
Cash invested: $55,000
Sale price: $297,000
This was my very first flip that I completed about a month ago.
What made you interested in investing in this type of deal?
I have had several rental properties in the past and decided I would like to try something new and I did.
How did you find this deal and how did you negotiate it?
Listed on local MLS
How did you finance this deal?
Hard Money Lender
How did you add value to the deal?
I did a full rehab on this property including landscaping, new flooring, fresh paint, new kitchen, new plumbing, new bathrooms, etc.
What was the outcome?
Though there were many struggles with this property regarding local permitting issues in the end it was very successful.
Lessons learned? Challenges?
Always get permits, expect delays with contractors, never pay all contractors up front.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Camilo Barraza was very helpful with comps in the area.
Where u living in Cali when u did this flip?
What did the hard money numbers look like?
"Always get permits, expect delays with contractors, never pay all contractors up front."
Amen brother. Amen!
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