Fix and flip in Bloomington IL
Investment Info:
Single-family residence fix & flip investment in Bloomington.
Purchase price: $10,000
Cash invested: $80,000
in the middle of a huge flip, house has termites, and was bought by an investor off auction.com two years ago for 21,000. We bought it for half that price and added an addition of two bedrooms and one full bath. hoping to be done in May.
What made you interested in investing in this type of deal?
Needed to get cash up, and it was a good deal that took a lot of work and time.
How did you find this deal and how did you negotiate it?
My plumber knew the other investor, he wanted 17k. Ended up getting it for 10k
How did you finance this deal?
cash
How did you add value to the deal?
addition, new siding, roof, everything
What was the outcome?
....?