Fix and flip, SHF Lorain

[Assaf Hazan]

Investment Info:

Single-family residence fix & flip investment in Lorain.

Purchase price: $88,000
Cash invested: $60,000

We are currently renovating a single-family home located near the local high school in Lorain. This spacious property features 4 bedrooms and 2 bathrooms. The project includes a full renovation: a brand-new kitchen, converting one bathroom to a modern walk-in shower, and complete interior painting. Our goal is to bring the property to a high standard and position it for a resale value above $205,000.

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

I was actively searching for investment opportunities in the area when my agent received a tip about this property. As soon as it hit the market, we moved quickly and got it under contract right away. After the inspection, I negotiated further based on the findings, which allowed me to secure the property at favorable terms. Ultimately, I purchased the property following this negotiation process.

How did you finance this deal?

I used hard money

Lessons learned? Challenges?

It better to use cash ;) i am trying to find another good deal and its difficult, main challange is to work with the lender it is my first time and it requires funding since the lender gives money only after a stage is complete and the GC was paid