Fix and Flip Investment

[Frank Avallone II]

Investment Info:

Single-family residence fix & flip investment in Newton.

Purchase price: $150,000
Cash invested: $100,000
Sale price: $341,000

First Time Flipping a home! Learned a lot about the process. Prior to this my investing experience had been all buy and hold investing.

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

Great opportunity to help a neighborhood and make money doing it.

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

Through a real estate agent.

How did you finance this deal?

Hard Money and Personal Money

How did you add value to the deal?

Redid the entire inside and outside of the home.

What was the outcome?

Great outcome! Learned a ton and made money doing so.

Lessons learned? Challenges?

Hiring a great contractor is a must. Job took much longer than expected. Learned to be much more strict with all hires in the future and set deadlines.