Fix and Flip in Houston, TX

[Matthew Bernal]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $156,000
Cash invested: $197,000

Purchase Price: $156,000
Rehab: $24,000
Hold Time: 3 Months
ARV: $265,000

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

This was a great deal to launch my Houston operation. Low purchase price, simple renovations, great area.

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

I found this deal by skip tracing pre-foreclosures in Houston and then hiring a cold caller off of Fiverr.

How did you finance this deal?

I used Capital Connect to fund 80% of the purchase price and 100% of the rehab, and then partnered with a private money lender to cover the gap.

How did you add value to the deal?

1. Replace floors
2. Paint interior and exterior
3. Replace roof
4. Replace fence
5. Replace surfaces in kitchen and bathrooms
6. Replace appliances

What was the outcome?

1. The seller made a healthy profit, allowing her to reset her financial situation
2. The renovations are being completed ahead of schedule
3. The property goes on market next week

Lessons learned? Challenges?

The big lesson from this deal was the power of outsourcing seller outreach and creating efficient systems for my new team in Houston.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes!
1. Grant Haynes from Capital Connect
2. Wendel Jones- Consultant

DM me if you want their details!