First flip graduation present

[Emilia Crisswell]

Investment Info:

Single-family residence fix & flip investment in Waverly.

Purchase price: $1
Cash invested: $20,000
Sale price: $45,000

First deal to start my portfolio. Quick flip for a long term rental before I sold it. The most bad luck property I’ve ever owned but was a good first property- lots of learning lessons.

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

Borough owned the house & put in a $1 bid at a meeting.

Lessons learned? Challenges?

Don’t rent to friends, have everything in writing & take pictures.