Updated about 2 months ago on . Most recent reply
Ridglea North dollhouse transformation
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $300,000
Cash invested: $90,000
Sale price: $464,200
Beautiful Ridglea North remodel. This probate listing turned out to be my prettiest remodel yet.
What made you interested in investing in this type of deal?
This home is located in a very established quaint neighborhood that I have done many flips in successfully. I loved the challange of making this very dark and dated home a star again!
How did you find this deal and how did you negotiate it?
I knew the property owner, and when he passed away I negotiated a sale with the trust.
How did you finance this deal?
Cash and sale of bitcoin.
How did you add value to the deal?
Recent comps and vendor quotes.
What was the outcome?
This sale concluded with a decent gain, but the market had begun to pull back just as we listed it for sale.
Lessons learned? Challenges?
Lesson- Do not let your heart interfere with a deal. We probably paid more for the home than it was actually worth.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Sold in mls.
