Mid-Century Farmhouse Fix and Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $74,000
Cash invested: $142,000
Renovation for retail sale of mid-century farmhouse situated on 3.5 acres.
How did you find this deal and how did you negotiate it?
Purchased through a local wholesaler.
How did you finance this deal?
Commercial line of credit and cash.
How did you add value to the deal?
Complete renovation working within the existing footprint.
What was the outcome?
Property went under contract within 4 days for $199k
Lessons learned? Challenges?
Brick siding is preferred for future rehabs, try and purchase with existing driveway (this one had no concrete or gravel bed) and ALWAYS have contractors sign a lien waiver as work is completed.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
As a licensed agent, I served as the listing agent. Worked with a local, regional bank in establishing a 12 month access line of credit.