Updated over 1 year ago on . Most recent reply
My first deal!
Investment Info:
Single-family residence fix & flip investment in Chaffee.
Purchase price: $140,000
Cash invested: $25,000
Sale price: $305,000
Househack / Flip
What made you interested in investing in this type of deal?
I wanted to create a crashpad. The floorplan was perfect!
How did you find this deal and how did you negotiate it?
On market. Not a ton of negotiating.
How did you finance this deal?
Used my VA loan
How did you add value to the deal?
Updated the appliances, updated the windows, updated the electrical, replaced the HVAC, reframed the lower bedroom utility/laundry closet to open into the hallway instead of the bedroom.
What was the outcome?
I sold it to focus on multifamily
Lessons learned? Challenges?
Strong demand for room rentals outside of aviation professionals. Understand the status of systems going into a deal especially when dealing with multiple tenants!