First fix & flip in Houston Texas

3 Replies

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $117,000
Cash invested: $60,000
Sale price: $239,000

4-2-2 Single story...Did not flood during Hurrican Harvey. Complete rehab

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

Interested in fix & flip

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

Customer of mine wanted out and did not have the money to rehab it. Purchase for what was owed.

How did you finance this deal?

Hard money

How did you add value to the deal?

Rehab

What was the outcome?

Now ready to list and sell

Lessons learned? Challenges?

Took too long.
Finding good contractors and reasonable.
Went over budget too much

@Robert Miller How long did the rehab take? Our company Houston Renovators does fix and flips for folks. Typically a full gut is going to take 4-5 months conservatively. 

@Robert Miller I am also interested to know how long the rehab took and about what % over budget the project went. I’m just starting out so it would be great to get a feel based on actual experiences.

Thanks,

Zac Mokua

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