Updated almost 6 years ago on . Most recent reply
Franklinton Flip Property
Investment Info:
Single-family residence fix & flip investment in Columbus.
Purchase price: $40,000
Cash invested: $141,000
Sale price: $230,000
Rehabbed the interior & exterior of a 4 bedroom and 3 bathroom single family including changing the property from a top and bottom duplex to a single family home. Located in upcoming Franklinton.
What made you interested in investing in this type of deal?
The area is improving and we wanted to help Columbus improve the downtown areas
How did you find this deal and how did you negotiate it?
We found this deal on the MLS and made a fair offer based on our numbers.
How did you finance this deal?
Private money
How did you add value to the deal?
Pulled comps in the area
What was the outcome?
We flipped the house within a year
Lessons learned? Challenges?
Plan additional 10% for contingency for unforeseen repairs and increased timeline.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We worked with Plaid Properties to finish this rehab correctly and save the deal.
