Updated about 3 years ago on . Most recent reply
Dallas Flip Partnership
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $247,000
Cash invested: $75,000
Sale price: $470,000
A newer investor reached out and wanted to partner with me to be the capital raiser. We were in the same mentorship but NEVER met and both lived out of state but had a team out there. Full gut renovation cost $50k.
What made you interested in investing in this type of deal?
Breaking into a different market.
How did you find this deal and how did you negotiate it?
They brought it to me, negotiated down from $325k asking to $247k.
How did you finance this deal?
Hard money and private money gap.
How did you add value to the deal?
Fully updated it.
What was the outcome?
$40k profit!
Lessons learned? Challenges?
Be more conservative with the ARV. We anticipated making $50k but market took a huge slow down when interest rates increased.
