Bagley Fix & Flip w/ contractor from you know where
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $65,000
Cash invested: $90,000
Sale price: $200,000
This was a my first multi-family flip. The renovations was tough on this one.
What made you interested in investing in this type of deal?
This one was interesting because I had the contractor from you know where. He told me that he could do the renovation for $45k-$50k, and it ended up being $90k.
How did you find this deal and how did you negotiate it?
I found this one on the MLS.
How did you finance this deal?
I used a hard money fix and flip loan.
How did you add value to the deal?
There was a full renovation on the property over a few months.
What was the outcome?
I ended up selling it for a profit.
Lessons learned? Challenges?
Do your homework on your contractor! They can make you or break you.