Small multi-family (2-4 units) fix & flip investment in Omaha.
Purchase price: $65,000
Cash invested: $70,000
Sale price: $242,000
The entire duplex was gutted to the studs and was redone top to bottom including a sewer line to the street. I have flipped over 150 properties and helped clients to flip at least 500 more.
What made you interested in investing in this type of deal?
Have been doing it for a very long time
How did you find this deal and how did you negotiate it?
I found this property on the Omaha Area Board of Realtors MLS. I only use this source to find properties for my clients.
How did you finance this deal?
Self-fund or Line of credit
How did you add value to the deal?
Gutted the entire property
What was the outcome?
Proving a great place for an investor to live on one side and rent the other out. WIN-WIN that's my philosophy
Lessons learned? Challenges?
The most important lesson is for anyone interested in investing in a real estate investment business is to make sure they have a residential investment specialist that is also an investor at least flipped a few properties, knows more about this business than the person they are trying to help and will never put their own needs before the client.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am my #1 best client however, I never compete with my clients. I have assisted many to become millionaires real estate investors in the metro Omaha area. I try to be the source of information for all of my client's needs and have an extensive list of resources.
Good work Fred! Nice to see a project of yours!
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