Updated about 1 year ago on . Most recent reply
Successful First Fix & Flip
Investment Info:
Single-family residence fix & flip investment in Hamden.
Purchase price: $100,000
Cash invested: $38,000
Sale price: $251,000
First fix and flip project.
What made you interested in investing in this type of deal?
I had personal ties to the area and saw the potential in this once blighted property.
How did you find this deal and how did you negotiate it?
This deal was on the market. I negotiated terms that were a win/win for both parties.
How did you finance this deal?
Cash.
How did you add value to the deal?
Exterior and interior renovations. New flooring, new paint, new fixtures, updated kitchen and bathroom. Stainless steel appliances, new roof, new porch, new siding.
What was the outcome?
The project was a success, our General Contractor, Better Touch Home Improvement did an amazing job.
Lessons learned? Challenges?
We had a major challenge with a subcontractor that held up our project timeline, but we were able to work through it to complete the project.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My closing Attorney and General Contractor was amazing, as usual. I highly recommend Connecticut Real Estate Closing Attorneys LLC in Hamden, CT and Better Touch Home Improvement LLC!