Second Solo Flip in the Bag
Investment Info:
Single-family residence fix & flip investment in Portsmouth.
Purchase price: $127,000
Cash invested: $53,000
Sale price: $199,900
Contributors:
Taylor Hudgins
Bought this one directly from a motivated seller through my lead generation campaign.
What made you interested in investing in this type of deal?
Helping out a distressed seller while making a nice profit.
How did you find this deal and how did you negotiate it?
Seller found me through my Facebook ad campaign. Originally I was going to wholesale it, but wound up buying it myself.
How did you finance this deal?
Hard Money and personal capital.
How did you add value to the deal?
Refinished floors, new countertops, refinished the siding (aluminum).
What was the outcome?
Under contract in the first week thanks to an outstanding agent.
Lessons learned? Challenges?
FHA 90 day rule sucks. Might be worthwhile to get an elevation certificate in advance (this further delayed closing the sale).
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Taylor is fantastic! She’s gotten two of my flips to the finish line super fast.
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Real Estate Agent North Carolina (#328996) and Virginia (#0225251568)
