Fix and Flip Country Farmhouse
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $40,000
Cash invested: $89,000
Sale price: $210,000
Found this home on Facebook marketplace. It was fix and flip that sold and appraised for 200,000. We owner financed the other 10,000 at 8% interest over 5 years for them. We used hard money for the purchase price but funding the rehab ourselves. Use licensed contractors on everything and spend zero hours of our own time on it other than walkthroughs.
What made you interested in investing in this type of deal?
The profit margin
How did you find this deal and how did you negotiate it?
Facebook marketplace and acted quickly with cash and bought as-is.
How did you finance this deal?
Purchase was hard money at 10% but the rehab was personally funded.
How did you add value to the deal?
Full rehab
What was the outcome?
$60,500 in profit
Lessons learned? Challenges?
Order items like siding and windows in advance. A lot of waiting around for those 2 things towards the end of the job.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We are an agent and run a team.