My First Flip Deal in San Antonio Texas

My First Flip Deal in San Antonio Texas

Investor · San Antonio, TX · Member since 2020 · 14 posts · 4 votes

Investment Info:

Single-family residence fix & flip investment in San Antonio.

Purchase price: $80,000
Cash invested: $125,000
Sale price: $169,900

First flip experience. Learned a lot.

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

Great purchase opportunity; great neighborhood; great bones; great contractor.

How did you finance this deal?

Private Money

How did you add value to the deal?

Updated and modernized

What was the outcome?

Good for a first deal.

Lessons learned? Challenges?

Under budget. I got lucky the contractor I choose for the job was willing to work with me.

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

Contractor, yes.

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  • Member since 2019 · 4 posts · 0 votes
    6y

    @Eugene Herbert nice work! As a beginner myself I'm curious to how you found the property? Did you do MLS or go through a wholesaled

  • Investor · San Antonio, TX · Member since 2020 · 14 posts · 4 votes
    6y

    @Nadeem Hussain I had an unfair advantage. My property management company managed this property when the original landlord passed away. His estate agreed to sell the property to me along with 4 others part of the estate. As a result, I flipped this one using a private money partner; and the other 3 I wholesaled. In hindsight, I should have done more to secure better financing and kept all 4 as rentals. Now this house is worth over $200k and the others have gained in value significantly as well. By now, they would have all been stable rentals for me and I could have refinanced using the equity and cash flow had I kept them. I hope this helps.

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