Hampton VA, fix and flip success story.

[Erica Osborn]

Investment Info:

Single-family residence fix & flip investment in Hampton.

Contributors:
Jonathan New

I was the selling agent when my badass flipper client purchased it, and I was the listing agent on the back end! Some good negotiation tactics on the front end and some grace on the backend made this another successful project for my client. Successful all-around!

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

I love working with investor clients, as an investor myself, we have then same train of thought! Jonathan is a no-brainer client, someone who I can have honest convo with about deals and intelligent back and forth to make sure the deal gets done.

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

We found this deal on the MLS, it had been on there for a while. We planted a seed with the listing agent (since the property had been on the market a while), I came back around and watered that seed and BOOM that flower came up through the dirt and we plucked it! My client knew the number he needed to get it for, we put that out there to the listing agent in the form of a verbal offer and when it came time the seller needed to sell, my client was there to buy.

How did you add value to the deal?

I was the agent on this deal, both sides. I helped run numbers & comps on the front end, negotiated the deal and manuvered discussions with the listing agent, keeping lines of communication open. I try to handle everything once the work is done, to get the deal sold and have happy buyer on the other side who will sing my client's praises.

What was the outcome?

SOLD! Even with the holiday schedule working against us, and we were dealing with a picky 1st time home buyer on the other end!!

Lessons learned? Challenges?

Persistence and follow-up are key in investing and working as an investor agent.