Updated almost 7 years ago on . Most recent reply
Our biggest transformation ever & potentially our biggest profit!
Investment Info:
Single-family residence fix & flip investment in Jeffersonville.
Purchase price: $70,000
Cash invested: $90,000
This property was the biggest transformation so far in my REI career, and it fought us every step of the way. I found this property on the MLS listed for $88k, and the seller accepted my all cash offer of $70k. We invested more than $90k in renovations, and it took a total of 9 months to complete. On 10/20/2018 we listed the property for $259,900, and the payoff is right around the corner!
What made you interested in investing in this type of deal?
The mid-century modern look caught my eye while combing through properties on the MLS. This property had been on the market for a long time, and it had an enormous amount of issues.
How did you add value to the deal?
We inserted a partition wall in the large addition on the back of the property to create a master suite, and a family den. By adding the wall and closets we converted the property to a split floor-plan while also adding a 3rd bedroom. We also finished the basement by adding a 4th bedroom, and a half bath since there was already an existing waste line. Oh yeah, we also renovated every square inch, including a new roof, HVAC, hot water heater, windows, waterproofed the basement,
What was the outcome?
I expect to have multiple showings tomorrow, and hopefully we'll receive an offer this week! If you'd like to see all of the before/after photos please 'LIKE' Sperzel Properties on Facebook! If you'd like to write an offer that would be fine too! https://www.facebook.com/SPERZELPROPERTIESLLC
