Single-family residence fix & flip investment.
Purchase price: $150,000
Cash invested: $55,000
Sale price: $230,000
4 bed 2 bath
What made you interested in investing in this type of deal?
Increasing capital to invest in future buy and holds.
How did you find this deal and how did you negotiate it?
How did you finance this deal?
How did you add value to the deal?
Full home renovation
What was the outcome?
Sold home and turned a profit.
Lessons learned? Challenges?
Learned that keeping balance of a budget on a smaller scale home renovation proved more difficult than our previous larger scale renovations.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
So after realtor fees and closing costs you made about 10k? How long did it take?
@Ryan Myhre It took 81 days we do the flips after work and on weekends currently. Thankfully, our realtor gives us a lower comission rate on houses we buy and sell through him. Profit stands at 15k which is a tight margin for us. Back to looking for those decent cash only properties. It looks like you've been doing well in our area which is nice to see! Cheers!
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