Another fix and flip in Colorado Springs!

[Jacob Mueller]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $251,000
Cash invested: $15,000
Sale price: $390,000

Bought an old run down house. From what I could tell, somebody had already tried to flip it but abandoned the project for some unknown reason.

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

A wholesaler believe it or not. First time for everything!

How did you finance this deal?

Hard money 100% and partnered with a contractor to finance the construction - only covered the holding costs!

How did you add value to the deal?

Finding the deal, financing it, determine it's true ARV, finding the end buyer

What was the outcome?

Sold to someone who's going to short term rent it!

Lessons learned? Challenges?

Old houses are always challenging... never underestimate their surprises!