Updated almost 5 years ago on .
First House Flip Massachusetts
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $100,000
Cash invested: $20,000
Acquired this property a month ago as my first house flip. The house is getting a roof replacement, new windows, vinyl siding, kitchen + bathroom renovations, paint, and the floors refinished.
Total rehab costs: $35,000-$40,000
ARV: $200,000+
What made you interested in investing in this type of deal?
I was interested in investing in this type of deal because it will allow me to build more capital for bigger deals.
How did you find this deal and how did you negotiate it?
I found this deal on the MLS and had my realtor submit the offer. I offered shortly after it was posted which worked in my favor.
How did you finance this deal?
Private Money
How did you add value to the deal?
Will be doing a Roof replacement, Vinyl Siding, Replacement Windows, Kitchen and Bathroom rennovations, paint and floor refinishing. Also plan on subdividing the lot.
What was the outcome?
Still in progress
Lessons learned? Challenges?
Finding a good contractor is like finding a needle in a hay stack.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jonathan Bombacci (Agent)
