All Forum Posts by: Lynda Blocker

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,000
Cash invested: $15,000
Sale price: $225,000

Picked up as a wholesale property. Updated flooring, counter tops, tile backsplash, appliances, updated lighting, painted interior, freshened up landscaping at approximately 15k sold for $225K in under 60 days.

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

This home presented as an easy fix and flip. The demand for SFR homes at affordable prices is high and the ROI was well worth the investment with the little amount of time involved = a good deal!

How did you finance this deal?

Cash

What was the outcome?

Happy distressed seller, generated work for a contractor, provided a beautiful affordable to a first time home buyer, cleaned up the cul-de-sac in the neighborhood and made profit doing so. All in all, a great deal for many people involved.

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

I am a licensed Real Estate agent.

In most states you have to hold your license for 2 years prior to getting your broker's license. Additionally, some states require you to have a brick-and-mortar location for the public.  Possibly in the long run you could save yourself a lot of money but also consider the time and cost to obtaining the license. Don't forget there are also continuing education classes and insurance requirements.