Fix n Flip in Independence Missouri
Single-family residence fix & flip investment in Independence.
Purchase price: $55,538
Cash invested: $75,000
This is our newest investment. It's a 3/1 in Independence, MO. We will be all in at $75K and it will be put on the market for $115,000
What made you interested in investing in this type of deal?
The owner called me and they were in a tough situation where they had to sell their house fast
How did you find this deal and how did you negotiate it?
We own a bill board, the owners called us and yes we negotiated the deal. They originally wanted $70K for it.
How did you finance this deal?
Private Money mostly
How did you add value to the deal?
We are going to clean and update but also considering a 1/2 bath if our budget allows in basement.
What was the outcome?
I will keep you updated
Lessons learned? Challenges?
One owner of the house is loud and opinionated. It's harder to do deals when personal judgement gets into play.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agents and I specialize working with investors.