1325 Forester RD Flip

[Cassidy Burns]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $61,950
Cash invested: $61,950

Fix and Flip Project:
-3 bed/ 2 bath
-Basement
-Purchase Price: $61,950 (Online auction)
-Appraised Value: $124,000
-Rehab Budget: $20,000 (HVAC, new water heater, paint throughout, new counter tops, appliance package, 2 light bathroom Renos)
-Projected List Price: $135,000
-Projected Outsell: $130,000

Good neighborhood, I sold a house in November very similar (but actually only 2 bed/ 2 bath) for $126,000.

Should be finished with Reno beginning of April!

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

Great margins, I've done quite a few projects in this neighborhood.

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

Agent sent to me via online auction. I bid on this for 2 months, finally came to a price.

How did you finance this deal?

Cash purchase, private money. They are receiving 10%.

How did you add value to the deal?

Light renovations. Adding central air, landscaping.

What was the outcome?

Projected Outsell : $130,000

Investors Profit: $8,500 in 3 months

Projected Profit: $22,000

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

Yes, my go to agent in the area, Lisa Brown