SFR flip in Albany, Ga

[Ian Porter]

Investment Info:

Single-family residence buy & hold investment in Albany.

Purchase price: $20,000
Cash invested: $7,000
Sale price: $57,000

This property was part of a package of homes purchased in March of 2017. It was intended to be a buy and hold investment, but it became clear selling the property would provide a large profit.

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

This home came as part of a package of properties purchased and provided a unique opportunity to get at a low bulk price.

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

I found this deal on the MLS after finding another one of the homes in the package. I asked the agent to contact the bank and send me a list of the REO properties they currently held and negotiated a small bulk deal.

How did you finance this deal?

Investor financing on the front end and "cash out refi" into a traditional long term note (commercial note).

How did you add value to the deal?

The renovation added significant value and additionally the property was purchased below market because of the bulk purchase.

What was the outcome?

Almost 100% ROI.

Lessons learned? Challenges?

This property did not present as many unique challenges as many others we purchased did.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent that brokered the deal (for myself) and I managed all renovations.