First Fix and Flip in Holland, MI

[Travis Dreyer]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $91,513
Cash invested: $28,487
Sale price: $145,000

Fix and Flip. Bought and sold in 3 months. Profit: $25,000.

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

I've always wanted to flip a house. One of the motivations for this flip was to generate profit to invest into more rental properties, specifically multifamily.

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

MLS, It was a foreclosure. I worked with a realtor and offered $7,500 over asking. I was one of 7 offers and won the bid.

How did you finance this deal?

Cash Investor

How did you add value to the deal?

A lot was cosmetic. Complete redo on kitchen and bath. Some new windows. Paint and Kilz everything (house was a smoker house)

What was the outcome?

It was great. It was fast and profitable and I havn't found a deal near that good since.

Lessons learned? Challenges?

No major mistakes were made but I would say make sure double and triple check your rehab numbers.

[Kyle Shankin]

@Travis Dreyer congrats on the first deal buddy, keep up the good work!

What made you choose to offer over asking?