First Fix and Flip in the works!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $440,000
Cash invested: $80,000
Full gut remodel! Updating all the “NEEDS” the house has to go through to make it a full functional home. Updating kitchen, bathrooms, bedrooms, and basement. Changing the layout of home to accommodate today’s style and doing exterior work to improve curb appeal.
What made you interested in investing in this type of deal?
I was interested in this deal because I wanted to get a first hand experience in the process of fixing and flipping. I have talked to hundreds of investors and read tons of books that I felt I needed to just jump into action.
How did you find this deal and how did you negotiate it?
I found this deal through another investor.
How did you finance this deal?
I used a private investor to fund the deal.
How did you add value to the deal?
Updating electrical panel, new roof, adding new water heater, furnace, a/c unit, adding sqft to rooms, and adding another full bathroom.
What was the outcome?
Still in process.
Lessons learned? Challenges?
Finding the contractor has been the biggest challenge, finding investor friendly contractors is hard to come across but they are out there.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I have tons of contacts and would love to help anyone out.
