Updated 18 days ago on . Most recent reply
SFR Fix/Flip in Weatherford, TX
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $160,000
Cash invested: $9,300
Sale price: $230,000
Purchased this property from a wholesaler, did minimal rehab and it turned out very nice.
How did you find this deal and how did you negotiate it?
Wholesaler, and I bought for less than they were asking.
How did you finance this deal?
Hard money lender
How did you add value to the deal?
Finished laying laminate flooring in bedroom, repainted the entire house, redid the cabinet hinges to make it more modern.
Lessons learned? Challenges?
The majority of the house had some original wood floor that was coming up in a few spots. In hindsight, we would have been better off replacing all of the flooring rather than trying to keep fixing what was there.
The other issue on selling was the neighbors house across the street was a pure junk yard so many folks did not like that.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Linda Shaw with Berkshire Hathaway is the real estate agent that does all of my deals. She's great to work with and very realistic on setting the pricing and working to get the property sold.