Updated 2 months ago on .
1945 Elmwood Dr
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $142,500
Cash invested: $55,000
Sale price: $283,000
It was a 3br 1ba split level home with a full unfinished basement. After complete remodel, we made it into a 4br 2 full bath with a finished basement. New roof, plumbing, and electrical.
What made you interested in investing in this type of deal?
Well, I've been investing in fix & flips and long-term rentals since 2010. Now I've made the switch over to the financial side of things. I'm a Private Money Broker and owner of Investment Capital Solutions, LLC helping other investors accomplish their investment goals by providing assess to funding their deals. Visit: icsgastoniacom.com Let us help you get funding for your next deal.
How did you find this deal and how did you negotiate it?
I have a realtor I've been working with for over 10 years who looks for properties I may be interested in.
How did you finance this deal?
All of my deal since I started have been cash deals, no loans. I started out buying HUD homes in 2010.
How did you add value to the deal?
I did a complete upgrade on electrical and plumbing, and a complete remodel to the home including removing wall and finishing the full basement.
What was the outcome?
A complete success! Bidding war at listing time.
Lessons learned? Challenges?
Continue to make the homes modern and new again.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, I work with real estate agent Sarah Drummond at Carolina Living Real Estate.