Charming Townhouse in Historic District
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $116,000
Cash invested: $4,944
Three Story townhome in historic Mill Hill distric of Trenton.
What made you interested in investing in this type of deal?
I wanted to get involved with fixing and flipping properties. The price point on this property is low which limits my risk, but the numbers seem to work. I purchased this property for 116k and the ARV is 220k. The home is in great condition and needs minimal rehab.
How did you find this deal and how did you negotiate it?
This was an off-market deal that our realtor found. He sold the house next door and was approached by the owner who was looking to sell.
How did you finance this deal?
Used HML line of credit, which only required 10% down and partnered on the investment to limit out of pocket expenses.
How did you add value to the deal?
Moved the kitchen to first floor of townhome
update kitchen
stain floors throughout home
add a master bathroom & suite
paint the walls
add fireplace
clean up back yard
paint front door and shutters
add HVAC
What was the outcome?
Still in progress
Lessons learned? Challenges?
still in progress