Investment Info:

Single-family residence fix & flip investment in West Palm Bch.

Purchase price: $220,000
Cash invested: $150,000

House was completely gutted from inside. New plumbing, new electrical, new roof, new AC, drywall, Kitchen remodeled, bathrooms remodeled, floors done. Originally, the house was owned by an animal "addict". I have no problems with that at all, however the house had a stench and got stuck within the ac vents and seeped through the hardwood floors, we basically had to rebuild the house. The neighborhood is pretty close to the inter-coastal beautiful walks throughout a historic neighborhood.

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

The location! The area has a lot of promise and now an abundant amount of houses here do not go less than 450k+.

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

We purchased through auction, which for some is a little scary but with our own "family" team, we search through titles and try to take a look at the property online or if close a drive-by.

How did you finance this deal?

Private investor.

How did you add value to the deal?

Having patience LOL.

What was the outcome?

A beautifully done, charming home with efficiency in back in an historic neighborhood. It was my first official flip and one of my favorites ever done.

Lessons learned? Challenges?

This was my first actual flip. My family was doing so with an investor for about 2 years before I joined. I was working doing finance for a company in Boca Raton, FL until they laid us all off. From there, I had extra time and made some mistakes trusting sub contractors with the demo, my electrician took forever and overcharged for the majority of items done. The permitting process was also a challenge. I was still trying to find a team and it was tough but I got a beautiful product in the end.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We have everything in house, our own brokerage and now licensed contracting company.