An Fix and Flip that became selling a project: Vcaluable lessons learned

[Alan Asriants]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $212,500
Cash invested: $19,486
Sale price: $265,000

Flipped a 3-bed twin in Lower Merion. Went big with an architect to modernize a 1900s home, but the attached vacant neighbor was a major hurdle. Tried buying it—no luck. Listed with plans/permits; buyers worried about the neighbor. Closed slightly below asking, made 10%+ cash profit. Key lessons: you buy your neighbor, you never go broke taking a profit, and patience pays off in tough deals.

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

The Location was class A - Lower Merion, and the margins were great.

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

MLS

How did you finance this deal?

Cash and using some HELOC funds

How did you add value to the deal?

We provided approved permits and plans

What was the outcome?

We sold it as is as - as a project for another buyer! WE walked away making a decent profit and did become greedy on the bottom line.

Lessons learned? Challenges?

In the end, we made a profit—and walked away with some crucial lessons:

When you buy a home, you buy your neighbor.

You never go broke making a profit.

This project reinforced that even in high-end markets, strategic thinking and patience are key. It was a challenging but incredibly rewarding experience!

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

I am the agent