Updated 2 months ago on . Most recent reply
First Fix & Flip Ever!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $60,000
Cash invested: $15,000
Sale price: $110,000
Single Family Home
What made you interested in investing in this type of deal?
Listening to Bigger Pockets Podcasts
How did you find this deal and how did you negotiate it?
Through a local real estate agent.
How did you finance this deal?
We were able to leverage the equity in our home with a refinancing loan.
How did you add value to the deal?
Through sweat equity we rehabbed the home inside and out.
What was the outcome?
We were able to rent the house for a few months and then received an offer to purchase.
Lessons learned? Challenges?
We are pretty handy people and found value in doing the fix ourselves. We would certainly do it again in the future if the market conditions are right.