Updated over 6 years ago on .
Mason City Fix and Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $10,000
Cash invested: $58,000
Sale price: $80,000
Sold on a Contract For Deed. 15 year terms at 11%. Completely rehabbed manufactured home. New appliances, heating, AC and electrical. Move-in or rent-ready.
What made you interested in investing in this type of deal?
Started by buying a tax lien on this property. Then took deed to it and rehabbed it.
How did you find this deal and how did you negotiate it?
Bought the tax lien at auction
How did you finance this deal?
Cash
How did you add value to the deal?
Full Rehab
What was the outcome?
Sold it on a Contract For Deed (owner's financing) for 15 years at 11%. Was happy to help the buyers who are an older couple with mobility issues who now have a single floor home that fits their needs.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I had a realtor and a management company that is helping me manage it at a distance.
