First Flip at 20 years old while in college.
Investment Info:
Single-family residence fix & flip investment in Fort Worth.
Purchase price: $164,000
Cash invested: $185,000
Sale price: $272,000
Yee Yee, time to house hack using this profit as a down payment.
What made you interested in investing in this type of deal?
Time for my second property. I saw an opportunity to BRRRR or flip this property and closed on an off-market deal the day before it was going to be listed to the MLS.
How did you find this deal and how did you negotiate it?
Off Market, agent's office.
How did you finance this deal?
Private Investors
How did you add value to the deal?
I managed the entire project showed fundamentals for investors to make a 10% annual return on this property.
What was the outcome?
Everyone got their return and some more. Project ran over time and over budget but luckily the market went up with us.
Lessons learned? Challenges?
If it can go wrong, it will go wrong. You will own longer than you plan and it will go over budget. When it is all said and done you will make less money than you anticipated.