Bought rental sight unseen.. turned into a fix and Flip

8 Replies

Investment Info:

Single-family residence fix & flip investment in Virginia Beach.

Purchase price: $100,000
Cash invested: $100,000
Sale price: $290,900

Bought rental sight unseen.. house was trashed and tenants wouldn't pay rent. Turned into a Fix and Flip

Thank you @Amy Aziz ! When looking at the numbers, we knew going in as a worst case scenario what our max repair number would be and we were still able to make a profit. Low and behold, it was the worst case and did had to replace almost everything. The benefit to this was the market continued to appreciate and in the long run were able to increase our profit. 

Originally posted by @Alexis Terry :

Thank you @Amy Aziz! When looking at the numbers, we knew going in as a worst case scenario what our max repair number would be and we were still able to make a profit. Low and behold, it was the worst case and did had to replace almost everything. The benefit to this was the market continued to appreciate and in the long run were able to increase our profit. 

Congrats! I am a huge numbers person and assume the worst, thank you for giving me the confidence to try this! Wish me luck! I can't wait to see your next flip!  

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