Briarcliff Way, Mims, FL 32754
Investment Info:
Single-family residence fix & flip investment in Mims.
Purchase price: $52,000
Cash invested: $49,000
This was a foreclosed property that had to be totally refurbished, including plumbing and electrical.
What made you interested in investing in this type of deal?
To take this run down home into my hands and mould it into a beautiful creation that I can sell to not only put money in my pocket, but to bring it back to life and make a new family very happy with everything they are looking for in a home for as long as they want to live in it.
How did you find this deal and how did you negotiate it?
In the MLS
How did you finance this deal?
N/A
How did you add value to the deal?
By paying 2% of the sale price toward buyers closing costs
What was the outcome?
We closed on it and the buyers were very happy
Lessons learned? Challenges?
To make sure to thoroughly check contractors licenses and references before hiring. I had to hire and fire throughout the process for many unpleasant reasons.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a Licensed Real Estate Broker and Investor, so I worked very pleasantly with another agent who brought the buyers.