Single-family residence fix & flip investment in Marrero.
Purchase price: $87,500
Cash invested: $25,000
Sale price: $163,599
This house was bought with an owner occupied loan. While living in the house I did the rehab myself. Lots of sweat equity!
What made you interested in investing in this type of deal?
The financial & personal freedom is what really got me interested in Fix & Flips.
How did you find this deal and how did you negotiate it?
I found this deal through a family member. Not much negotiating was needed since the sale price gave me so much equity as it was.
How did you finance this deal?
I used a Rural Development loan to find this deal
How did you add value to the deal?
Value was added to this deal by doing a full rehab from floor to ceiling
What was the outcome?
The outcome of this was a great paycheck, many trades learned, and the motivation to make this a career.
Lessons learned? Challenges?
The main lesson i learned was patience.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
All work was done by myself.
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