Fix And Flip project in Buena Park, CA

[Marco Chaidez]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $700,000
Sale price: $925,000

Total Renovation from Top to bottom. 4 Bedroom 2 bathroom Pool house. 5 Month renovation, 100k Investment.

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

The condition of the house was bad and the area was good.

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

MLS

How did you finance this deal?

Hard money and Private money

How did you add value to the deal?

MLS comps

What was the outcome?

3.5 starts Out of 5

Lessons learned? Challenges?

Permits and Inspections take longer than expected. End Buyer Loans are sometimes harder to get approved on fix and flip properties due to the Upgrades made and appraisers not knowing the true cost of repairs made to the property. You Must have a solid Expenses report to provide to the appriaser to show the Improvements made to the property to ensure no appraisal value issues arrise.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Real Estate Agents and Private Money Investors