Updated about 2 years ago on . Most recent reply
First official investment under newly formed LLC was a complete success!
Investment Info:
Single-family residence fix & flip investment in Roundup.
Purchase price: $95,000
Cash invested: $84,000
Sale price: $255,000
This was a private sale from a family who's parents passed away and they were looking for cash buyers. This was our first official purchase and sale with our newly formed LLC. We gave the complete house a facelift. New kitchen, baths, flooring and added a bedroom. We replaced the old boiler heat with a new furnace and gave a 100 year old home A/C! It was a huge undertaking, which we knew at the time, and at one point I thought we were in over our heads. In the end, we had multiple offers and sold as quickly as we anticipated! We have used all of the profit to reinvest in the next project house 2 weeks after we closed. The family we bought it from thanked us for brining the house "back to life" so a new family could enjoy it for another 100 years! It gave them closure to their parents passing.
