Second Fix & Flip 2016

3 Replies

Investment Info:

Single-family residence fix & flip investment in Dobbs Ferry.

Purchase price: $180,000
Cash invested: $120,000
Sale price: $395,000

We stumble across this house because of its conditions and it was a great candidate for a fix and flip. The listing price was at 295k and the negotiations began! The house was in desperate need of repair and also did not have a boiler because of messy divorce (Wife removed boiler because she paid for it). That being said we could not get a conventional mortgage so we did all cash offer at 180k. This project took about 10 months and sold in a week!!! Check out finish product

What made you interested in investing in this type of deal?

I love a good project and this one was in great need of repair

How did you find this deal and how did you negotiate it?

Found this deal on zillow and negotiated myself with the selling agent

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut renovation of Kitchen and bathrooms. Originally it was a one bath house and we added an additional bathroom.

What was the outcome?

$$$

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

We hate spam just as much as you