432 Fairmount Avenue, Jersey City, NJ 07306

[Jane Orlando]

Investment Info:

Single-family residence fix and flip investment.

Purchased a run down single family home in McGinley Square/Journal Square area. Renovated and sold.

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

I was interested in restoring this home to it's former glory. It needed a lot of love.

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

My agent found it, knowing what I was looking for. Price was too high for condition of home, so negotiated it down.

How did you finance this deal?

100% cash

How did you add value to the deal?

Full renovation, plus paving stones and updated yard.

What was the outcome?

For a first flip, I pocketed a nice sum, plus my contractor did well. All in all, a successful flip.

Lessons learned? Challenges?

I negotiated the price down by $45k, but should have gone even lower, as it needed over $100k in renovations. I did well, but if something went wrong, it might not have turned out successfully.

[Allan Szlafrok]

Tough to get a good deal in JC these days. Thats a pretty decent area so you really couldn't have gotten away with a cheap reno job. Buyers expect more than just the basics in that area. Looks great from the outside im sure its just as nice inside. Good job and congratulations on a successful first flip!