First Real estate investment-Flip
Investment Info:
Single-family residence fix & flip investment in Amarillo.
Purchase price: $99,000
Cash invested: $26,000
Sale price: $149,000
First flip home in great investment pocket of Amarillo. $24K profit. Invested without physically seeing the property. Hired a local contractor to walk the home and bid the entire project so I knew what I would spend before I bought.
What made you interested in investing in this type of deal?
Profit Potential. Guts
How did you finance this deal?
Loan from a family member
How did you add value to the deal?
Local Real Estate Agent ran comps
What was the outcome?
Great outcome
Lessons learned? Challenges?
Getting contractors to do the finish work on a job is a difficult part of rehab. find someone you trust