Updated about 3 years ago on . Most recent reply
Fix and Flip - Cincinnati, OH
Investment Info:
Single-family residence fix & flip investment in Cincinnati.
Purchase price: $58,000
Cash invested: $65,000
Single Family home that was a fix and flip- ran into some foundation issues along the way, but still turned a good profit.
What made you interested in investing in this type of deal?
Unique home in an up and coming area of Cincinnati.
How did you find this deal and how did you negotiate it?
Originally on MLS, deal went pending, but out of town buyer was not responsive with realtor/seller, so we took the deal.
How did you finance this deal?
All cash
How did you add value to the deal?
Redoing the basement, kitchen, and bathrooms. Doing much needed foundational repairs, and repairing and staining the wrap-around deck.
What was the outcome?
Overall a profit of around $25,000.
Lessons learned? Challenges?
The biggest challenge was staying on target time-wise. While the profit was what we expected, we would have liked to complete the job quicker while maintaining the quality of work.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Triston Burnham was our realtor through 3CRE. He specializes in investment real estate.