Updated about 1 month ago on . Most recent reply
4 bed 3 Bath Hurricane Damaged Home
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $148,000
Cash invested: $12,000
Sale price: $249,000
Purchased the property seller financed at 0% for 148K put 12K into fixing a room that wall had collapsed and caused minor water damage. Sold the property for $249K.
What made you interested in investing in this type of deal?
I understand the housing situation in Southwest Louisiana and found a great deal to make a decent return.
How did you find this deal and how did you negotiate it?
Driving for dollars, spoke directly with the seller and made the numbers work for what she needed.
How did you finance this deal?
Seller financed and my own cash reserves.
How did you add value to the deal?
It had some damage to a bedroom and flooring I repaired it along with providing a seller credit to replace the privacy fence upon sell.
What was the outcome?
I made just under $100k on this deal.