Updated almost 7 years ago on . Most recent reply
First deal was a win
Investment Info:
Single-family residence fix & flip investment in Buffalo.
Purchase price: $72,000
Cash invested: $25,000
Sale price: $180,500
Originally a house hack, but stayed a little longer due to marriage, then a a baby, then life.
What made you interested in investing in this type of deal?
Low end house in a great neighborhood
How did you find this deal and how did you negotiate it?
MLS through realtor
How did you finance this deal?
Traditional, 15% down
How did you add value to the deal?
Kitchen and bath addition, full demo and reno of another bath, reno of remainder of house. All self performed
Lessons learned? Challenges?
Fear is the enemy. I closed on this house a few days after losing my job. It needed a full renovation and was very undesirable when I purchased it. Hard work pays off.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Realtor for purchase and sale.