Case Study for a duplex that I made $90 000 profit before taxes

[Fred Tichauer]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $65,000
Cash invested: $60,000
Sale price: $242,000

Total gut job

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

This was my 150th project

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

I only utilize the MLS to find properties for my clients.

How did you finance this deal?

Cash

How did you add value to the deal?

Total gut job

What was the outcome?

Made approx. $90,000 before paying taxes.

Lessons learned? Challenges?

The most important lesson that is overlooked quite often is that people should not try to do this on their own without the assistance of a highly credentialed Realtor that has life experiences and can provide their clients with a step by step guide on how to flip properties without the drama seen on HGTV.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?