Single Family Home fix & flip in Georgia
Investment Info:
Single-family residence fix & flip investment in Newnan.
Purchase price: $86,000
Cash invested: $34,932
Sale price: $148,000
3 month renovation of a 3/2 SFH south of Atlanta.
What made you interested in investing in this type of deal?
Fast growing community, very few homes in the county that sell below $150,000.
How did you find this deal and how did you negotiate it?
Offmarket purchase based on local networking.
How did you finance this deal?
Traditional investment loan mortgage
How did you add value to the deal?
Full home renovation - new flooring, paint, kitchen and bath renovations, exterior paint.
What was the outcome?
Sold house offmarket for full asking price.
Lessons learned? Challenges?
We built in a 20% contigency budget. We were able to stay within the budget; however, there were challenges that came up that we had not planned on needing to address.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We worked with a local agent who was able to source the home offmarket and sell the home offmarket.