Investment Info:

Single-family residence fix & flip investment.

Purchase price: $121,000
Cash invested: $1,000

Very nice 3 story, soon to be 5 bedroom home with 2.5 baths(Bedroom and Bathroom on First Floor), 4 bedrooms on second floor, with a full finished attic. The house when completed will be over 2800 sq feet of living space. Minor Rehab work: Basement Waterproofing and Sump Pump Installation; 32 replacement windows, New Architectural Shingled Roof, New Kitchen, Refinish Hardwood Floors, and Two new bathrooms.

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

The potential return on investment when property is remodeled. Location is great (called the millionaires row).

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

MLS, Real estate agent; house was advertised as a first time home buyer, but after inspecting the home, I didn't think a first time home buyer would take the effort to remodel the home. House was on the MLS for 7 days (not typical for a house that was listed at $139,900) to remain on the market that long in this neighborhood.) I dug a bit deeper and found the house was owned by a family for over 50 years. It was an estate sale where the family was ready to move. Made offer at $115k.

How did you finance this deal?

Private money lend for $120,000 with a competitive rate of 12% all paid when house sells. $1500 origination fee, and $350 attorney fee.

How did you add value to the deal?

Lender knows and understands my track record. She was willing to offer the funds needed without hesitation.