Fix and Flip Project 5431 8th place

[Travis Turner]

Investment Info:

Single-family residence fix & flip investment in Lubbock.

Purchase price: $75,000
Cash invested: $65,000
Sale price: $181,000

This one turned out to be a little more work than original planned. With my conservative numbers however, most random issues that come up will be with house money, and we still turned out a decent profit.

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

Flipping is something that we do on a routine basis

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

This deal was acquired off the market by an interested seller who was looking for an agent. ALWAYS negotiate "as is" and get the best purchase price.

How did you finance this deal?

Financed through line of credit with local lender

How did you add value to the deal?

I coordinated the contractor, picked the interior and exterior color schemes, and handled the finances, as well as brought the buyer off market and closed the deal.

What was the outcome?

Home was flipped and sold for a profit.

Lessons learned? Challenges?

You will never think of everything to check out when looking over a property. Stick to the majors, and stick close to your numbers. Never fall in love with the deal, there is always another one.

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

I highly recommend myself and my services :)