Updated over 4 years ago on . Most recent reply
Ugly Stockton fixer turned Modern!
Investment Info:
Single-family residence fix & flip investment in Stockton.
Purchase price: $225,000
Cash invested: $45,000
Sale price: $355,000
This was my first and longest flip to date. This is what got my real estate career started!
How did you find this deal and how did you negotiate it?
Found this distressed property through a family friend.
How did you finance this deal?
The seller carried the note and I was responsible for the rehab cost and mortgage. Anything past a certain number I was allowed to keep for profit.
What was the outcome?
I did something that was a bit risky. I leverages my entire savings account and even maxed out several credit cards. Net profit wasn’t too great but the knowledge that was acquired was life changing!
