Updated 12 months ago on . Most recent reply
Nightmare into break even (barely)
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $470,000
Cash invested: $120,000
Sale price: $700,000
First property with a GC. Disaster!
What made you interested in investing in this type of deal?
Low offer versus high potential.
How did you find this deal and how did you negotiate it?
Local RA’s
How did you finance this deal?
Home Equity
How did you add value to the deal?
Lipstick treatment plus full basement and master bathroom remodel.
What was the outcome?
Couldn’t finish windows and landscaping as wanted. However interior was worth the budget!
Lessons learned? Challenges?
Research GC before going with 1. We had a nightmare of an experience and ended up doing 75% or more ourselves. 3 month project turned into 10 months. Sold on day 1 so we are proud of the work put in!