It's been a while since I've found a deal like this
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $230,000
Cash invested: $55,000
Sale price: $360,000
Complete interior remodel including flooring, kitchens, baths, painting, lighting and more. Staged and sold the house with the staging furniture
What made you interested in investing in this type of deal?
It was a foreclosure and they had replaced the roof prior to selling
How did you find this deal and how did you negotiate it?
Found it in the mls and offered over and over until they accepted our offer. It was auctioned and then they still negotiated.
How did you finance this deal?
Through a partners self-directed IRA
How did you add value to the deal?
I found the deal, estimated expenses, created a budget and timeline and handed them off to our project manager. Then I had it staged and sold it. It took about 5 months start to finish.
What was the outcome?
Everyone made money
Lessons learned? Challenges?
We fell out of escrow twice because of buyers getting cold feet
