Fishers, Indiana Condo Flip
Investment Info:
Condo fix & flip investment.
Purchase price: $82,200
Cash invested: $53,000
Sale price: $205,000
Great little flip on this condo! Unfortunately, the day we listed it for sale a neighbor accidentally drove through the garage door (yah, weird I know). The community dictates what style of garage door you have to have and it was special order so the sale process took a bit longer than normal so we could get that new door on for the buyer before closing. Still, an easy flip on a condo in a high demand area yielded big profit!
What made you interested in investing in this type of deal?
Low/No Exterior repairs required because it's a condo - you do still have to be heavy on trying to hold the property managers accountable though because a condo that's sat vacant or had a distressed homeowner in it for some time likely has alot of unreported issues on its exterior (which this one did).
How did you find this deal and how did you negotiate it?
Direct mail. Walked the property, evaluated the rehab, shot my shot.
How did you finance this deal?
Private Money
How did you add value to the deal?
Upgrades and updated finishes, as well as curing functional issues that were created by 70s builders such as doors into bathrooms through closets, no actual master shower, no doors to master bathroom.
