Flipped this off market deal
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $850,000
Cash invested: $163,000
Sale price: $1,280,000
THIS HOME HAS BEEN FULLY REMODELED. YOU ENTER THE HOME WITH BEAUTIFUL UPGRADED TILE ENTRANCE INTO A LARGE OPEN LIVING AREA WITH VIEWS OF THE BEAUTIFUL BACKYARD AND SPARKLING POOL. LARGE OPEN KITCHEN AND DINING AREA, WITH ACCESS TO THE BACKYARD THE HOME FEATURES 4 BEDROOMS. NEW FLOORS, NEW KITCHEN AND BATHROOM COUNTERTOPS & CABINETS, ALL NEW APPLIANCES AND. THE BACKYARD IS PRIVATE WITH A NEW COVERED CUSTOM PATIO, THIS IS AN AMAZING HOME WITH GREAT SCHOOLS, CLOSE TO PARKS, SHOPPING, FREEWAY.
What made you interested in investing in this type of deal?
this house was two doors down from a fixer we were already working on
How did you find this deal and how did you negotiate it?
Seller contacted me because I was already flipping a nearby home, a very similar home, and agreed to purchase at the same price as the initial fixer.
How did you finance this deal?
HML, PML
How did you add value to the deal?
Created an open floor plan, new fence, new pool, added a covered patio, rehabbed interior
What was the outcome?
Took longer to sell as market was shifting, but still came out with a nice profit
Lessons learned? Challenges?
efficient, quality, quick work is key to getting in and out before markets shift too much. Always pay attention to interest rates and markets shifts.
