Single-family residence fix & flip investment.
Purchase price: $70,500
Cash invested: $45,000
Sale price: $245,000
Long term live in and flip.
What made you interested in investing in this type of deal?
HUD home. Loved the charm
How did you find this deal and how did you negotiate it?
HUD home. Owner Occupant period bid
How did you finance this deal?
How did you add value to the deal?
Roof, windows, exterior paint and interior paint, bathroom upgrades, kitchen remodel and wall removal.
What was the outcome?
It took an extremely long time and alot of do it yourself work.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I was really impressed with my real estate agent. He got my house listed and with 5 offers in two days at above market value. Tommy Dorso Jr. at Mapleridge Reality is a real maven and fantastic negotiator.
Congrats! I'm currently doing a long-term live 'n flip and it has been a LOOOOONG and painful process. I started doing work myself and ended up hiring it out because I lacked the skills and patience to do work well enough to sell. So props to you for sticking to it and your net worth will thank you!
Thanks Kenton, it was def. a long journey. Now I’m looking to get a live in 3-4 family and another investment 3-4 by the end of 2021. Hopefully I can grow the confidence and put this money to work long term. I learned that much of the DIY stuff is not my expertise, I also learned it’s not easy to find trustworthy workers.
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