Single-family residence fix & flip investment in Yucaipa.
Purchase price: $125,000
Cash invested: $60,000
Sale price: $280,000
Single Story home located on a half-acre lot. This home was abanded for a few years. It was the seller's rental property for years but after having issues with multiple tenets it became vacant and sat. We repaired the inside and out installed a new kitchen and flooring painted and repaired drywall. I really enjoyed this one because we made the owner our hard money lender.
What made you interested in investing in this type of deal?
It was a good deal and it was one that was going to be quick to flip
How did you find this deal and how did you negotiate it?
With the help Of Anthony and his networking we were able to find this deal
How did you finance this deal?
owner financed the deal to us
How did you add value to the deal?
by updating the home and cleaning it up
What was the outcome?
it got sold very quickly and also net a good return
Lessons learned? Challenges?
don't ever buy a deal tied to a contractor
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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