My Experience with a Live in Fix & Flip

[Logan Graham]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $44,900
Cash invested: $11,846

This is a live in flip. We bought the house at a distressed price and spent a month fixing it up just enough to move in. We remodel the bathroom, did some updates to the electric, painted most of the rooms, replaced some carpet and updated the hardwood floors. So far after moving in we added a natural gas line, replaced the furnace, remodeled the kitchen and have started working on the mudroom. We still have to do a few updates to outside of the house before we are ready to sell it.

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

I want to invest in multifamily properties but I don't want to do that in New York. We are here temporarily and I wanted to make some extra cash to help me get started investing when I move down south.

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

Worked with a real estate agent I knew. I used the tactics I learned from the book "Never split the difference".

How did you finance this deal?

My own money and money from family.

How did you add value to the deal?

Remodeling most of the house.

What was the outcome?

Pending... I am still living there.

Lessons learned? Challenges?

It is important to ask for help. But sometimes you have to put the time into it and get it done because no one will care about your project as much as you do.