Updated over 7 years ago on . Most recent reply
Fix & Flip/ Historic Home
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $51,250
Cash invested: $100,000
Sale price: $258,000
This property is located in the historic district of downtown Phoenix AZ.
This was a full on fix & flip that took 7 months of hard work. Was never posted on any real estate websites or forums in order to sale. Due to such of extensive remodeling and high quality of the finishes the property was sold to one of the neighbors co-worker that was looking for a house in this area for over 1 year. It pays off to communicate with your neighbors about what you doing and building relationships.
What made you interested in investing in this type of deal?
ROI
How did you find this deal and how did you negotiate it?
Networking with professionals.
How did you add value to the deal?
Cash
What was the outcome?
Outstanding product with multiple offers in a bad market.
Lessons learned? Challenges?
Always provide highest quality product to your customers, evaluate what is really worth, compare to the current competition and analyse where you stand, stand out every way shape or form. When you trow a party for all the neighbors for all their support and help thru out the journey, you can expect the good things will come your way.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Sold directly to the buyer after multiple offers.
