Updated over 5 years ago on .
1107 West Confederate Ave
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $40,000
Cash invested: $140,000
Sale price: $288,000
Complete gut with 700 square foot addition to rear of property. I converted a 1,100 square foot duplex into a completely updated 1,800 square foot three bedroom two bath. It was on the market less than a week prior to contract.
How did you finance this deal?
Hard money lender.
How did you add value to the deal?
Complete renovation. Added master bedroom, walk in closet, master bath, generous laundry/mud room and electrical closet. I left no single area untouched.
What was the outcome?
We cleared a large sum on the sale and made money on the actual flip contract.
Lessons learned? Challenges?
Hard money lenders make it very difficult to employ subs and expedite the work. We spent a lot of time waiting for money to move to the next phase.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My wife has her Real Estate license
