Updated 3 months ago on .
1st Flip - Owner Finance
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $118,000
Cash invested: $40,000
Sale price: $180,000
Purchased out of desperation, yet I found great personal healing along this journey (the greatest reward!).
Purchased with lease with purchase contract, then wholesaled to an investor group, retaining 10% ownership.
What made you interested in investing in this type of deal?
It was a home. I had suddenly become homeless.
How did you find this deal and how did you negotiate it?
FSBO. Called the seller - made a win-win offer.
How did you finance this deal?
Seller financing.
How did you add value to the deal?
Sweat equity.
What was the outcome?
Sold to an investor group. Structured a JV maintaining 10% ownership and occupancy with the promise to complete the project.
Lessons learned? Challenges?
TONS! Learned its important to meet deadlines, if no BEAT them.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate professional.