134 Cooper Rd Cookeville, TN Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $85,000
Cash invested: $31,457
Sale price: $135,000
Sitting in the center of the most sought after neighborhood in Cookeville (Allgood), I thought this thing was an easy one. House was destroyed and full of rodents and fleas. I thought buyers would jump on this one as it offered one of the highest square footage's in the neighborhood and fully rehabbed. I was right...ish.
What made you interested in investing in this type of deal?
It was really the neighborhood and budding friendship with a realtor over in Cookeville that drew me into this one.
How did you find this deal and how did you negotiate it?
Local realtor in cookeville turned me on to this one.
How did you finance this deal?
I leaned on a hard $$ lender on this one (Greg Self) along with my cash.
How did you add value to the deal?
I leaned heavy on the comps and feedback from the local realtor that brought this deal to me.
What was the outcome?
After a rather long and frustrating process, encountering unforeseen objections while selling, I settle for an offer leaving me with a profit of about $5k.
Lessons learned? Challenges?
Biggest lesson learned was that I was no where near ready to manage projects from so far away. I also needed to focus more on markets I really knew and understood.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Kelly Morgan over in Cookeville
