Single-family residence fix & flip investment.
Purchase price: $99,000
Cash invested: $30,000
Sale price: $165,000
I found this property for sale on Zillow and made the connections fast to make this deal happen. While I didn't make a fortune on the first deal I had enough courage to keep going and kept rolling the profits into the next deals!
How did you finance this deal?
How did you add value to the deal?
Full interior and exterior renovations.
What was the outcome?
Successful flip made about $10K
Lessons learned? Challenges?
Always have 10% reserve for repairs so you always have extra cash for when things don't go right.
Congrats on the flip @Dalton Osmanski ! I'd call a profit on your first flip a success! Reserves are huge, I always add a contingency amount to whatever my budget is because it always seems to go over. Keep it up!
@Dalton Osmanski Great job, congratulations!
Congrats on your first flip!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you