1st Fix and Flip

[Jeff Budrovic]

Investment Info:

Single-family residence fix & flip investment in Montgomery.

Purchase price: $250,000
Cash invested: $40,000
Sale price: $369,000

Purchased a property a couple of years ago that had largely been untouched in decades, in total disrepair. My initial instinct was to turn it into a long-term rental, however the numbers just weren't working, especially in a high interest rate environment at the time. I was able to fix and flip by carefully laying out exit strategies, and made several thousand dollars on the deal. A great experience.