Updated almost 4 years ago on .
Off Market Deal - Fixing to Flip
Investment Info:
Single-family residence fix & flip investment in Buena Park.
Purchase price: $570,000
Cash invested: $95,000
Fix and Flip in Buena Park scheduled for completion mid December
What made you interested in investing in this type of deal?
Off market seller called us on our sign posted on our completed flip in the same neighborhood
How did you find this deal and how did you negotiate it?
off market, seller called us. Hoarder home that needed EVERYTHING. Seller wanted an as is offer with no headaches. Told her that's how we roll.
How did you finance this deal?
HML, and private money
How did you add value to the deal?
opened up the kitchen, cosmetic rehab
What was the outcome?
permits for all work stamped, passed all rough work, being insulated and closed up by end of November. for sale by end of December
Lessons learned? Challenges?
because our flips are now "owner build" we had to learn how to read plans. Each city has different wait times for plan review, so it's best to carefully review plans for accuracy and compliance prior to submission. Some cities take up to 2 weeks for simple plan review. And that feels like FOREVER. Takes even longer with the holidays!
