Updated over 3 years ago on .
Figures Ave - Columbia, TN
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $97,000
Cash invested: $50,000
Sale price: $185,000
COVID related delays
What made you interested in investing in this type of deal?
looking to add to my portfolio of oppertunities
How did you find this deal and how did you negotiate it?
Found thru HUD Foreclosures
How did you finance this deal?
Bank financed
How did you add value to the deal?
Using the expertise, I gained in my own personal home improvements I was able to see the deal potential that the "professional flippers" missed.
What was the outcome?
Great! took a very distressed home and made it best on the block. Sold for highest price/sqft in the neighborhood at that time.
Lessons learned? Challenges?
Covid hit right in the middle of this flip, learned to pivot from contractor fix and flip to DIY'r flip. Sourced materials from unconventional sources and then did the daily GRIND to bring it in.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Developed great relationships with my lender which has lead me to no resistance from the bank on future deals.
My banker became Asst. Branch manager, we both grew together.