Updated about 5 years ago on . Most recent reply
Churchill downs studs up rehab
Investment Info:
Single-family residence fix & flip investment in Louisville.
Purchase price: $12,000
Cash invested: $68,000
Sale price: $105,000
This one took alot longer than planned due to some contractor delays, but still came out a winner. I partnered with another local all cash on this one, with a solid return. when a project runs long its ok when you are all cash as you lose some future use of the funds but theres not a 10% interest monster eating 1/2 the profit either.
before
https://my.matterport.com/show/?m=G1fvD3aUJix
after
https://my.matterport.com/show/?m=Cp3LNWpZ98t
What made you interested in investing in this type of deal?
I already had several properties in the area and knew its rent potential as a possible exit strategy.
How did you find this deal and how did you negotiate it?
Sheriffs sale, but we bought it from the winning bidder.
How did you finance this deal?
Cash and another cash partner
How did you add value to the deal?
all new everything.
What was the outcome?
about 25k profit in a little less than a year.
Lessons learned? Challenges?
Dont try a new GC on a rehab of this size.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself