Montgomery AL live in flip

[Aaron Millis]

Investment Info:

Single-family residence fix & flip investment in Montgomery.

Purchase price: $72,500
Cash invested: $28,000
Sale price: $132,000

This was a live in flip that I just recently sold. Its the fastest renovation I've done yet and that's only because I hired 99% of it out vs doing the work myself (thank God). I used cash from a previous flip to fund the renovation. This is my first time using all of my own money for a renovation. I usually like using other peoples money, but it sure is a lot easier (and faster) when you have cash! Hopefully I can start keeping houses like this as rentals, but for now this was a good flip.

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

Bigger Pockets in general... Podcasts mostly

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

another agent I work with posted about it in our agent forum. And I just recently became available to buy again so it worked out great.

How did you finance this deal?

Fannie Mae

How did you add value to the deal?

New floors in the entire house/ Updated the bathrooms and kitchen/ recessed lighting/ new blinds and outlets/ etc

What was the outcome?

I made just over $22,000!

Lessons learned? Challenges?

If I buy a house with galvanized pipes again i'm just going to plan on having to replace/update them.