Single-family residence fix & flip investment.
Purchase price: $321,000
Cash invested: $120,000
Sale price: $507,000
Two story, 4 bd/3 ba. Cosmetic updates including full kitchen gut and updates, consolidate obsolete extra closet and undersized master bath into large master bath, finished empty basement into extra living room, etc. Sale to retail buyer.
What made you interested in investing in this type of deal?
Enjoyed the process and potential for lump-sum profit.
How did you find this deal and how did you negotiate it?
Found through local networking connections. Purchased through wholesaler.
How did you finance this deal?
Private money partner.
How did you add value to the deal?
Identified and negotiated acquisition. Hired contractors and managed remodel. Listed and negotiated retail disposition.
What was the outcome?
13% net profit.
Lessons learned? Challenges?
Larger property that involved moving walls, finishing rooms, envisioning and enacting potential updates.
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