Fix and flippin in Montana

[Abram A Antonucci]

Investment Info:

Townhouse fix & flip investment.

Purchase price: $240,000
Cash invested: $80,000
Sale price: $405,000

Purchased an ugly townhouse and made it an awesome place.

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

It was a listing appointment and the house was too poor of condition for me to put in the MLS so I made her an offer and purchased the property.

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

It was lead from my real estate business. Negotiations took several months. She could not find anyone to fix up the property without spending a least $100K.

How did you finance this deal?

Local bank

How did you add value to the deal?

removed 4 slide off dumpsters of junk, exterior paint, interior paint, flooring, cabinets, countertops, front door and and finished the garage. Added a mini split heat pump and staged the home.

What was the outcome?

Sold in less than a week.

Lessons learned? Challenges?

Sometimes you have to do the work yourself and cant rely on contractors timelines or budgets.