Updated over 3 years ago on . Most recent reply
Miramar Beach Townhome Flip
Investment Info:
Townhouse fix & flip investment.
Purchase price: $247,000
Cash invested: $100,000
Sale price: $485,000
Newly renovated townhome with a new beach access being done. The property features a modern kitchen with new countertops, cabinets and fixtures. The recess lighting allows for a bright and airy feel. The master bedroom features a private balcony away from the hustle and bustle near all amenities of life. This townhome offers luxury vinyl plank throughout the upstairs and downstairs, newly renovated bathrooms and a generous sized living space.
What made you interested in investing in this type of deal?
I saw a good profit margin and the property was in a good location.
How did you find this deal and how did you negotiate it?
I found this deal cold calling and gave him an as is offer with concessions being paid out by the seller minus doc stamps on the deed.
How did you finance this deal?
15% down conventional
How did you add value to the deal?
Renovated the entire place and added a new bathroom. Completely gutted the property.
What was the outcome?
Sold for $485,000 with $160,000 in profit in 2 months of work.
Lessons learned? Challenges?
Always plan and prepare for the unexpected
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agent