Final Numbers Fix and Flip Project

[Cassidy Burns]

Investment Info:

Single-family residence fix & flip investment in Covington.

Purchase price: $55,000
Sale price: $131,250

Fix and Flip Purchase. Lead was brought to us through Facebook sphere. $25,000 rehab budget, will have on the market in less than 45 days

*** Updated after sale***
As all construction, delays occurred.
Updated Financials below:

Sale Price: $131,250
Seller Credit: $7,500
Net Sale Price: $123,750
Total Construction (Labor + Materials): $35,693.37

Total Profit: $14,000
All In Margin: 12.75% Margin

We are concentrating on higher price point renovation projects moving forward. With these smaller price points any mishaps on timeline and renovation budget margin gets eliminated very quickly.

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

Off market & low hanging fruit. We have construction in house so able to self perform.

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

Off market through a relationship

How did you finance this deal?

Hard Money Lender

How did you add value to the deal?

Interior Renovation

What was the outcome?

Sale Price: $131,250
Seller Credit: $7,500
Net Sale Price: $123,750
Total Construction (Labor + Materials): $35,693.37

Total Profit: $14,000
All In Margin: 12.75% Margin

Lessons learned? Challenges?

We are concentrating on higher price point renovation projects moving forward. With these smaller price points any mishaps on timeline and renovation budget margin gets eliminated very quickly.

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

BPG Residential