Updated almost 7 years ago on . Most recent reply
Fix & Flip Project in Sterling Heights, Michigan
Investment Info:
Single-family residence fix & flip investment in Sterling Heights.
Purchase price: $79,000
Cash invested: $110,000
Sale price: $145,000
Flipped my first Residential property in 2010 and was profitable.
What made you interested in investing in this type of deal?
Was already in the business and always had interest in any deal that made sense.
How did you find this deal and how did you negotiate it?
Through the MLS. I am a real estate broker. Negotiated myself.
How did you finance this deal?
Private Investor
How did you add value to the deal?
Rehabbed the entire home from cement to roof to windows...etc.
What was the outcome?
I made a profit for my investor and myself.
Lessons learned? Challenges?
You must supervise daily and be on top of every single thing.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No, just worked with my own resources.