Fix and Flip in Scottsdale
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $465,000
Cash invested: $90,000
Sale price: $619,000
Fix and flipped a SFR in Scottsdale. Netted 20% for both me and my equity partner.
What made you interested in investing in this type of deal?
Good Area, bought at right price.
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
HML
How did you add value to the deal?
Redeveloped the entire house
What was the outcome?
Netted 20% for me and my Equity Partner
Lessons learned? Challenges?
A variance was discovered between the tax records and the actual layout, which caused a discrepancy for the buyer in the sale process. The variance was over 10% of the SF. I was fortunate that the buyer was able to come up with the additional down payment.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Agents