Fix and Flip in Averill Park NY

[Christina Hennessy]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $75,000
Sale price: $250,000

Bought the house and 4 Acres next door for a New Construction project. The house was on 8 Acres. Sold for Cash

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

I know the area of town very well and knew it could make money

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

On my MLS

How did you finance this deal?

Cash

How did you add value to the deal?

I made an offer on the house and the land next door combined

What was the outcome?

The project took longer than anticipated. Covid was not helpful. Overall it worked out well in the end.

Lessons learned? Challenges?

Be careful when buying an old farm type of investment. There was a LOT of old farm stuff to get rid of all over the property even under the earth.

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

I was my own Realtor :)