Most recent flip in Surprise, AZ
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900
305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale
380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?
Quote from @Kevin Branin:
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?
@Kevin Branin I think you are mixing some things up with the numbers. The $30.5 k down is included in the purchase price. The $13k you reference I believe is what they spent on the rehab. The holding costs are $4k, probably to the HML. Which means they held this property and flipped it in a short amount of time (I believe).
Quote from @Kevin Branin:
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?
I just put the reno in there . My overall cash invested was roughly 50k
Quote from @Kevin Branin:
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?
To tell you the truth I use this feature on BP to track my own investments didn’t know it actually posted lol so everything is very raw
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
What were your HML points & interest rate?
Quote from @Mike Hern:12% no points no fees
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
What were your HML points & interest rate?
Quote from @Brett Tvenge:That's good if no points or fees. Who'd you use?
Quote from @Mike Hern:12% no points no fees
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
What were your HML points & interest rate?
Quote from @Bob Willis:If that’s the case, the 30.5 should fall under the cash invested. That’s a pretty good or great deal either way. The HML operated on a LTV of either 75% or 83%.
Quote from @Kevin Branin:
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?
@Kevin Branin I think you are mixing some things up with the numbers. The $30.5 k down is included in the purchase price. The $13k you reference I believe is what they spent on the rehab. The holding costs are $4k, probably to the HML. Which means they held this property and flipped it in a short amount of time (I believe).
Quote from @Mike Hern:
Quote from @Brett Tvenge:That's good if no points or fees. Who'd you use?
Quote from @Mike Hern:12% no points no fees
Quote from @Brett Tvenge:
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale380-339k = 41k profit
What made you interested in investing in this type of deal?
This is what we do...
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
10% down, HML
How did you add value to the deal?
Spruced it up, new carpet, new interior paint, new countertops, painted cabinets
What was the outcome?
Made some money
Lessons learned? Challenges?
0
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm the agent on the sell... used are normal wholesaler, contractor, and HML
What were your HML points & interest rate?
Message me and I can send you info… used the same co on about 40 so far