First investment property fixer up at the age 22

[Mervin Jean]

Investment Info:

Single-family residence fix & flip investment in Florida.

Purchase price: $185,000
Cash invested: $11,000
Sale price: $375,000

First investment property purchased at the age of 20 to fix and flip was so happy with the outcome I didn’t make when I was expecting but I didn’t make profit but I learned so much from it so glad I took the risk

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

Looking to build capital to put into rental properties

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

Wholeseller

How did you finance this deal?

Family lending money for the full rehab and down payment

How did you add value to the deal?

Originally was a 2/1 turned it into a 4/3

What was the outcome?

Amazing outcome did not get the net profit I was looking for but did not take a loss gave me the confidence to continue to keep going

Lessons learned? Challenges?

Problems will come up no matter how good you try to strategize

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

I’m an agent myself so I save myself money when putting it on the market