Smooth Condo Flip in North Jersey!

[Kevin Manafi]

Investment Info:

Condo fix & flip investment.

Purchase price: $303,500
Cash invested: $37,000
Sale price: $370,000

This was a condo flip deal that I purchased for all-cash off of the MLS and turned around very quickly, with the entire project taking less than 3 months from initial purchase to sale. It was smooth sailing as I completed the project on time and on budget--almost to the penny--and sold it for the exact ARV I projected in less than one week on market!

What made you interested in investing in this type of deal?

I love real estate and all types of deals, but I particularly love flipping!

How did you find this deal and how did you negotiate it?

I found this deal on the MLS and was able to negotiate more than $30k off of the asking price.

How did you finance this deal?

Cash

How did you add value to the deal?

I did a full cosmetic rehab on this property---all new paint, flooring, kitchen, bathroom, hardware, etc.

What was the outcome?

The outcome was exactly what I had underwritten--I stayed on time, on budget, and sold for the exact ARV I projected in less than one week on market!