Updated 6 days ago on .
Old but not forgotten!
Investment Info:
Single-family residence fix & flip investment in Shenandoah.
Purchase price: $195,000
Cash invested: $60,000
Sale price: $282,000
Live and flip property initially purchased with the intention of buy and hold but change strategy to learn more about rehab. We have definitely learned a ton and put way more money than anticipated. We were certain we were going to lose money, BUT the market took a turn (for our good) and we were able to sell for more than asking and CASH offer. VERY happy with what we learned (and the earnings, of course).
HAR Listing after Fix: https://www.har.com/homedetail/29009-cherrywood-ln-shenandoah-tx-77381/9898466
What made you interested in investing in this type of deal?
Location, Experience
How did you find this deal and how did you negotiate it?
We were looking like crazy on this neighborhood because of the benefits at so low cost (NO HOA). We did not negotiate too much since the price was fair and the market was crazy in that area with REI offering cash over asking.
How did you finance this deal?
Traditional lender since it was for personal living.
How did you add value to the deal?
We took a very, very old house and made it "pop".
What was the outcome?
Very satisfying flip with lots of experience and knowledge.
Lessons learned? Challenges?
Lots of Lessons Learned from the purchasing process all the way through the flip and sell. The biggest challenge was that the house was build more than 45 years ago and only had one owner, hence there were a LOT of old things and piping and wiring and insulation, and so on.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Justin Chaney. Very knowledgeable on REI on the area.
https://www.linkedin.com/in/justin-chaney-720045a7/
