Updated about 1 year ago on . Most recent reply
Whiteland Indiana Fix and Flip
Investment Info:
Single-family residence fix & flip investment in Malmstrom A F B.
Purchase price: $212,000
Cash invested: $46,000
Sale price: $325,000
Found a great 2013 SFR in an A class suburb that was mostly interior cosmetic.....IE smelled like cat urine or smells like money!! Trash out was hired to remove all belongings left behind Hired Off Leash Construction to rehab the interior. Full interior rehab was performed. Flooring, kitchen, baths, drywall, trim, doors, flooring, lighting. Project was completed and home was marketed and sold within 30 days of rehab completion. Netting a profit of $36,000.
What made you interested in investing in this type of deal?
Great purchase price and ARV in an A class area that is growing rapidly
How did you find this deal and how did you negotiate it?
Brought by an agent who I have done several cross deals with....NETWORKING!!!
How did you finance this deal?
Used a HELOC for the downpayment and Hard Money Lender for purchase and rehab
How did you add value to the deal?
Rehabbing and updating the property
What was the outcome?
Sold fast and at the price point we wanted
Lessons learned? Challenges?
Cutting down timelines to not extend carrying costs
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Off Leash Construction, I was the agent on the deal!
- Beau Matlock