Updated almost 7 years ago on . Most recent reply
Landing a fix and flip deal
Investment Info:
Single-family residence fix & flip investment in Las Vegas.
Purchase price: $185,000
Cash invested: $5,000
Sale price: $235,000
This is ranch property that we acquired for a fix and flip. We will put about $45k into renovations into property and try to sell it for the full value of $385k.
After doing the trash out and junk removal of the property, we received an offer before putting any real work into it. It will be closed next week. We only invested $5k into cleaning out the property and removing all the junk. It took five 40 yard containers to do it but this one is sold. Onto the next one!
What made you interested in investing in this type of deal?
It's an off market deal with a HUGE spread
How did you find this deal and how did you negotiate it?
Found the deal through a website. The original price was $215k. Got the seller down to $185k.
How did you finance this deal?
We paid cash for this deal.
How did you add value to the deal?
By removing the junk and trash from the property, people were able to see the potential in it.
What was the outcome?
SOLD!!!!