Fix and Flip - 114 Kirkpatrick Drive SW

[Greg Kurzner]

Investment Info:

Single-family residence fix & flip investment in Marietta.

Purchase price: $196,200
Cash invested: $63,364
Sale price: $310,000

Cosmetic Flip with whole house renovation, opened up floor plan, updated kitchen, bathrooms added laundry room. Glitch at resale with electrical system having to be rewired for grounding but otherwise smooth. First buyer terminated due to COVID related job loss...Days on Market longer as a result.

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

We are in the Fix and Flip business.

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

MLS and we are a investor-focused brokerage. Negotiated with listing agent.

How did you finance this deal?

Private Money line of credit

How did you add value to the deal?

Renovation that updated kitchen and baths, opened the floor plan and added a laundry room.

What was the outcome?

Successfully re-sold the home to an owner occupant.

Lessons learned? Challenges?

The electrical appeared intact but after buyer's inspection it was determined the grounding wasn't sufficient so we had to update that during buyer's due diligence.

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

Our fix and flip fund is affiliated with a licensed General Contractor, Property Pro Services, LLC and a franchised RE brokerage, ERA Atlantic Realty. Both affiliated companies specialize in investor deals so those companies would be great resources for acquisition/re-sale and renovation/remodeling for investors seeking those services.