Light Flip in Huntsville, Alabama

Investment Info:

Single-family residence fix & flip investment in Huntsville.

Purchase price: $40,000
Cash invested: $17,437
Sale price: $91,000

Contributors:
Evan McCuen

Here is a simple fix and flip that we completed in the Huntsville, Alabama Market

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

I like the light fix and flips because you can get in and out pretty quickly and still make a healthy profit.

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

This deal came off of a referral.

How did you finance this deal?

This deal was financed with a private money loan. 100% of the purchase price, rehab and holding/closing costs were borrowed for this deal.

How did you add value to the deal?

We came in and updated all the main finishes. Countertops and vanities replaced, cabinets painted, new flooring, new appliances and some new fixtures.

What was the outcome?

This was a successful rehab deal

Lessons learned? Challenges?

The biggest challenge was replacing a roof after we were under contract to sell and closing during Covid-19. Relatively smooth deal overall.

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

Rachael McCuen from Chanda Davis Real Estate was the selling agent and she did amazing as usual!