Updated almost 3 years ago on . Most recent reply
IF I CAN DO IT, SO CAN YOU!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $225,000
Cash invested: $55,000
Sale price: $479,000
MY LISTING DESCRIPTION WHEN I PUT IT UP FOR SALE
Beautifully renovated 2 story home located in the popular area of Jungle Terrace in St. Petersburg is now ready for you to call home. Enjoy a renovated home with many updates, tons of character including wood ceilings in the main area, 4 bedrooms, 2.5 bathrooms, a bonus living room to enjoy movies with friends and family, a large corner lot and right around the corner from the beaches
What made you interested in investing in this type of deal?
it was in a great area and the numbers worked
How did you find this deal and how did you negotiate it?
people contact me all the time to sell their properties, this one came from a friend that keeps his eyes open for me, i gave him 5k
How did you finance this deal?
first i did seller finance, then refi to a hard money, then sold retail
What was the outcome?
i made over 150k
Lessons learned? Challenges?
every flip is different, you learn something new every flip you do, this particular one was setup for 2 families but i opened between the stairs to adjoin the other half of the house
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
i dont sell with agents because, i save minimum $6k listing it on the mls myself