A combined family project

[Kurt Smith]

Investment Info:

Single-family residence fix & flip investment.

Cash invested: $40,000
Sale price: $515,000

This was a relative's home that we were able to renovate to make the house more appealing. Also increased the sales price with all of its new upgrades.

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

We didn't need to purchase the property. We were able to make a deal that worked for everyone.

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

We were able to make the house more desirable. Therefor selling at a better price and faster than an outdated home.

How did you finance this deal?

Didn't need to. Funded the renovation with personal funds.

How did you add value to the deal?

By updating the home inside and out.

What was the outcome?

Everyone in the deal walked away with a decent profit and are looking to do more projects with the money gained.

Lessons learned? Challenges?

Timing is everything. We started the project in the hottest market ever seen and sold in the quick cool off. Missed prime time by about three weeks.