Court House Flip Project Went Great
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $110,500
Cash invested: $31,000
Sale price: $238,000
It started as a 2BR 1 Bath 1172 sq ft. Added egress and bathroom in the basement which converted it to a 3BR 2 Bath with LR and entertainment space which ended up a little over 2000 sq ft. Full remodel inside and out with rustic flare and modern touches. brand new cabinets, appliances, water heater, HVAC, windows, custom concrete countertops, original hardwood floors, tile bathroom & huge backyard. To top it off this home was equipped with all sorts of gadgets to classify it as a smart home.
What made you interested in investing in this type of deal?
We were looking for a flip and this one came up as a foreclosure in an appealing neighborhood
How did you find this deal and how did you negotiate it?
Foreclosure and offered to the Bank
How did you finance this deal?
Commercial loan with 20% Cash Down
How did you add value to the deal?
Completely updated and added living space and bathroom
What was the outcome?
It turned out great and we profited
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself in this transaction and felt I did a great job:)
