My First Flip. Don't do more work than you need to.
Investment Info:
Single-family residence fix & flip investment in Roslindale.
Purchase price: $280,000
Cash invested: $63,866
Sale price: $390,000
This was actually my first flip, which was mostly successful. I learned a lot of valuable lessons. The Lessons Learned.....Always confirm square footage. I also learned to understand how to grandfather out of date construction and learned the importance between making profitable repairs. I learned how to consider snow removal during constFinally, I learned how important it was to not run a saw after 7 pm.
What made you interested in investing in this type of deal?
I wanted to make some money. This was a bank REO i thought I could take advantage of.
How did you find this deal and how did you negotiate it?
MLS Bank REOs
How did you finance this deal?
Hard Moneyu Loan w/ Personal Investor
How did you add value to the deal?
Ran the project and contractors.
What was the outcome?
Semi-successful flip. Made enough to put it back into next deal which was awfully mis-budgeted.
