Updated about 4 years ago on .
150% return in 5 months
Investment Info:
Single-family residence fix & flip investment in Coos Bay.
Purchase price: $85,000
Cash invested: $15,000
Sale price: $160,000
Tiny home conversion.
What made you interested in investing in this type of deal?
Recognized an opportunity in underutilized asset.
How did you find this deal and how did you negotiate it?
Located on the MLS and reached out to the listing brokers, one of whom was also the owner.
How did you finance this deal?
Owner financed. 25% down. Fully Amortized. Two year ballon with option to extend an additional year. No prepayment. Applied my RE commissions towards closing costs.
How did you add value to the deal?
Identified. Negotiated. Funded. Designed. Developed. Listed. Sold.
What was the outcome?
$40k out of pocket. 150% return in 5 months.
Lessons learned? Challenges?
Potentially should have refinanced and kept the property long term as short term rental and for additional future development.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself.
- AJ Wong
- 541-800-0455
