Updated over 6 years ago on .
North Phoenix Moon Valley Single Family
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $370,000
Cash invested: $45,000
Sale price: $489,000
Live-in Renovation. We scored this property at a low PPSQFT, did a total renovation to the inside, removing load-bearing walls, redoing the kitchen, floors, trim and 2 baths. We also installed a sprinkler system, grass and did landscaping. Not a lot was done to the exterior, just paint. (The color I hated, but it was too late) Sold quickly!
What made you interested in investing in this type of deal?
The neighboorhood was very solid, the PPSQFT was low for comps and this home had a lot of upsides. I was originally going to reno and keep but decided I wanted to live elsewhere.
How did you find this deal and how did you negotiate it?
I used a realtor, the seller was tough, he did not give way to much price-wise.
How did you finance this deal?
Conventional Mortgage
How did you add value to the deal?
Total renovation inside and yard.
Lessons learned? Challenges?
Be more conscious of paint colors, I hated the grey tones once they hit the building (too blue!) I also am never living in a flip again. :)
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Shawn Robson - Berkshire Hathaway is a great selling agent!