Fix and Flip

[Neil Smith]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $399
Cash invested: $445
Sale price: $514,997

A simple flip - cosmetic rehab

What made you interested in investing in this type of deal?

Did a JV with a partner and we both made about 25k

How did you find this deal and how did you negotiate it?

was off market- negotiated price down 20k

How did you finance this deal?

JV Partner

How did you add value to the deal?

Refreshed the house with a cosmetic update

What was the outcome?

Sold in 9 weeks for a nice profit

[Mohammed Rahman]

Wow nice work on getting that flip done and actually moving it quickly.

I’m actually on the road to my first flip right now, so always appreciate seeing real numbers and how things play out in practice like this.

Curious from your experience, what ended up being the biggest thing that made this deal work as smoothly as it did…was it more the purchase side, staying tight on rehab scope, or just getting the right buyer quickly once it hit the market?

Also wondering if you’d do anything differently if you ran a similar cosmetic flip again today.