Sandy, UT Fix and Flip Turned Note Investment

[Jeremy Bourgeois]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $550,000
Cash invested: $50,000
Sale price: $725,000

Cosmetic fix and flip on a large property in Salt Lake County, Utah. I sold this property on a lease option/contract for deed conversion and it now cash flows about $1,000/month after all expenses.

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

I love a good flip

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

I found it via SMS blast and getting in touch with the seller directly. The initial asking price was $600,000 and we settled at $550,000

How did you finance this deal?

Hard money, then a conventional loan

How did you add value to the deal?

I remodeled all of the cosmetics in the property and also replaced the roof and landscaping

What was the outcome?

After selling the house on a lease option, I left some money in the deal (about $15,000). I retain 15% equity in the property and cash flow about $1,000/month