Fix and Flip in Lampeter, Pa
Investment Info:
Single-family residence fix & flip investment in Lancaster.
Purchase price: $90,000
Cash invested: $75,000
Sale price: $214,500
single family home we purchased in really bad shape. It began as a 4 bed 1 bath that we converted to a 3 bed 2 bath. It had some structural issues and was smoked in for years.
What made you interested in investing in this type of deal?
The opportunity was too good to pass on.
How did you add value to the deal?
We added value by converting to a 3 bed 2 bath and by completely updating everything inside and out.
What was the outcome?
I feel really good about the outcome. I had intended to make more at the end, but being that I did all the work myself and paid myself labor throughout the process, it was definitely a success.
Lessons learned? Challenges?
We definitely spend more money than we first anticipated. However, looking back, there wasn't a lot that could have been done differently based on the shape of the house upon purchasing.