Updated almost 5 years ago on . Most recent reply
Great Purchase in Chattanooga Outskirts
Investment Info:
Single-family residence fix & flip investment in Chattanooga.
Purchase price: $200,000
Cash invested: $20,000
Sale price: $260,000
4 bed, 3 bath, older single family home in subdivision needing minor upgrades.
What made you interested in investing in this type of deal?
The subdivision was being revitalized with newer, larger lots being added adjacent to the property with significant value add to the area expected.
How did you find this deal and how did you negotiate it?
Our team was familiar with the area and aware of opportunities for job increases- thus housing expansion being brought by the FiberOptics companies expanding in the city.
How did you add value to the deal?
Minor renovations in the kitchen, basement, and changing the fixtures for a more modern feel added significant value to the deal.
Lessons learned? Challenges?
Always cushion with additional reserves for extended holding costs.