Loser Flip May Produce Future Profits
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $1,050,000
Cash invested: $125,000
Sale price: $1,190,000
Beautiful Single Story home located in Mission Viejo. The Curb Appeal is Breathtaking and the home features a beautiful upgraded Tile Entrance. This Modern look makes them home stand out and will not dissapoint. The home features a large open floor plan with a modern electric fireplace in the formal living area which is tiled from floor to ceiling.
What made you interested in investing in this type of deal?
Flip opportunity fell out of escrow, we came in as 2nd offer
How did you find this deal and how did you negotiate it?
Broker informed us of his listing
How did you finance this deal?
HML, Private Money
How did you add value to the deal?
Rehab and repairs
What was the outcome?
Sold during the down turn, lost money but found an off market deal under contract way below what we purchased this one for.
Lessons learned? Challenges?
Speed and keeping the quality of the rehab is essential during a down market as buyers become pickier, and funding becomes more expensive
