Updated about 4 years ago on . Most recent reply
1st Flip! Low Risk and Great Reward!
Investment Info:
Single-family residence fix & flip investment in North Charleston.
Purchase price: $90,000
Cash invested: $25,000
Sale price: $155,000
Great first-time flip. We added square footage by converting a porch into a 3rd bedroom. A mini-split, closet, wall paneling, window, and fixture were added to create the bedroom. A wonderful low-risk, successful flip!
What made you interested in investing in this type of deal?
I have always wanted to do this!
How did you find this deal and how did you negotiate it?
I am an agent, I found the deal, negotiated it, and represented myself and my partner in purchasing and selling the home.
How did you finance this deal?
Our HELOC's financed the deal. We split it 50/50 between myself and my partner.
How did you add value to the deal?
Adding Square Footage.
What was the outcome?
A successful flip!
Lessons learned? Challenges?
Do more on the upfront to get a quicker sale, which equals less holding time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
YES! Sarah Kozlik Carolina One Real Estate
(843) 303-3180