Single-family residence fix & flip investment.
Purchase price: $550,000
Cash invested: $250,000
Sale price: $950,000
Purchased an as-is home for a fix & flip. Needed a full gut. New flooring, kitchen, baths, roof, and more. No expense was spared as this home was only two blocks from the beach.
What made you interested in investing in this type of deal?
Proximity to the beach.
How did you find this deal and how did you negotiate it?
MLS. With Agent.
How did you add value to the deal?
Open floor plan on the first level. Opened up master bathroom.
What was the outcome?
@Nathan Gray congrats Nate on the big win! So how much did you spend on rehab?
Thanks Jonathan! Home was about 2250 sq ft. Spent around $220k on construction.
Congratulations on your success. I love to hear about local investors finding success in the market place. Just out of curiosity, how did you finance this deal? Did you do a typical BRRRR where you used cash, did you use syndication, or did you use a hard money lender? @Nathan Gray
Great job! I did a similar project in Jacksonville Beach, but just a tad lower price point (purchased for $375k, put $75k into rehab, ARV $525k). The semi-luxury price point is maybe the most lucrative price point for flippers in Jacksonville right now. The under $300k space is so saturated with buyers, investors, and I-buyers, so you decided to go where there is less crowd!
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