A newbies first fix and flip project

4 Replies

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $190,000
Cash invested: $66,000
Sale price: $292,500

My first real estate related investment I completed earlier this year. Made a lot of mistakes and learned a ton! I am glad to help anyone that has any questions or is interested in chatting about future projects!

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

I purchased this deal through a wholesaling company.

How did you finance this deal?

Hard money

How did you add value to the deal?

We added 150 sq feet of living area and converted the carport to a garage.

Lessons learned? Challenges?

Learned about project management, dealing with lenders, permitting issues, and the buy/sell process.

Originally posted by @Connor Maxwell :

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $190,000
Cash invested: $66,000
Sale price: $292,500

My first real estate related investment I completed earlier this year. Made a lot of mistakes and learned a ton! I am glad to help anyone that has any questions or is interested in chatting about future projects!

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

I purchased this deal through a wholesaling company.

How did you finance this deal?

Hard money

How did you add value to the deal?

We added 150 sq feet of living area and converted the carport to a garage.

Lessons learned? Challenges?

Learned about project management, dealing with lenders, permitting issues, and the buy/sell process.

 Lookin good dude. 1st one is always the hardest.

Looks great @Connor Maxwell !

The first deal is definitely the hardest. Dealing with contractors and managing the project has a steep learning curve. My first flip went similar to yours; if I were to go back and do the same project now I would probably shave $15k off the rehab and do it in half the time. You will learn and do better and better with each project!


Hopefully you made some money on the deal (I would imagine you netted at least $5k-10k after holding and selling costs?). That's just icing on the cake!

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