Updated over 1 year ago on .
Downtown Phoenix Condo Flip
Investment Info:
Condo fix & flip investment.
Purchase price: $570,000
Cash invested: $175,000
Purchased this rehab property in April for a building that is widely overlooked if you don't know the area. Full on high end rehab with custom finishes top to bottom. ARV is over $1M when done.
What made you interested in investing in this type of deal?
I live in downtown and sold in the area for years so anything Central for me in the valley is ideal. I've also known about this building as I've sold in it before and know how rare it is to catch a unit at the price I purchased.
How did you find this deal and how did you negotiate it?
An agent I know.
How did you finance this deal?
Finance of America. Not a lender I recommend but it was to help a broker close a deal so we did it.
How did you add value to the deal?
Full gut and remodel with high end fixtures and finishes.
What was the outcome?
Still working on it but a couple of weeks out from finishing.
