Flip in West Chester, PA

[Rob Lawrence]

Investment Info:

Single-family residence fix & flip investment in West Chester.

Purchase price: $293,000
Cash invested: $170,000
Sale price: $578,000

Bought this single family house, and I am currently in the process of renovating it. Planning the BRRRR it, should be able to rent it for $4,000 is my expectation. Should get some cash flow at that rent. Project has been a bit over budget.

Was not able to rent it for what I thought, so I ended up selling it and making around $40k.

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

Got it at a good price, thought it would be profitable.

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

It was on market. One of the agents on my team, Zack, tipped me off to it.

How did you finance this deal?

I used hard money

How did you add value to the deal?

Did a $175k renovation

What was the outcome?

I tried to rent it, but it didn't work out. I ended up selling it.

Lessons learned? Challenges?

Learned that I underestimated how much structural work would take.

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

I represented myself, used Blaine for hard money.