Single-family residence fix & flip investment.
Purchase price: $85,000
Cash invested: $70,000
Sale price: $180,000
4 bed 1.5 bath
How did you find this deal and how did you negotiate it?
I bought it on an online auction.
How did you finance this deal?
How did you add value to the deal?
Added powder room, new paint, new flooring, paved driveway, update the electric, mold remediation in basement, updated kitchen, new appliances.
What was the outcome?
I only made a few thousand dollars.
Lessons learned? Challenges?
I did a poor job of managing my contractor which significantly prolonged the project which increased my holding costs. My lender and agent made more on this deal than I did 🙂