Investment Info:

Single-family residence fix & flip investment in Loudon.

Purchase price: $27,500
Cash invested: $125,000
Sale price: $169,000

This was a 1 BR/2 bath 100 year old property in a historic district. I purchased from an individual...who actually had asked me to appraise the property. I chose to offer instead. I converted two living areas into bedrooms and did a massive overhaul. Way overimproved this property. Coolest thing, it has an incredible treehouse. I finally sold after 13 months of rehab.

What made you interested in investing in this type of deal?

I was in the market for a project and they asked me to appraise to set selling price. I bought instead.

How did you find this deal and how did you negotiate it?

Property owner called to have it appraised.

How did you finance this deal?

CAsh purchase then traditional financing with a great lender/line of credit.

How did you add value to the deal?

Converted to a 3/2 from 1/2....Kept the treehouse.

What was the outcome?

Made about $34,000 net.

Lessons learned? Challenges?

Stay on top of contractors...be more involved throughout.