Fix and Flip Dallas: 1

This post is very meaningful to me, because this was my first fix and flip project I have ever done and it was quite the adventure. This was one of the greatest experiences in my investing career and I couldn’t be more thankful!

Below I will show you the before video and the walk through of my team and I going through the property before we did any work on it.

Before Photos:

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The Situation:

So this was a seller that had call me off of one of my marketing channels. This guy was in the following situations:

  • Divorce
  • Foreclosure
  • Trying to save his credit

This guy was so motivated that as a matter of fact, the minute he called me. He had told me he was already moved out of the house and moved into a new apartment. He told me the house was mind and that was that!

 

How I bought the deal:

This was a really unique situation, because the sellers bank was Wells Fargo. What my team and I did was called up the bank and worked out a deal where we could take over the payments and just switch the names on the property!

The bank happily accepted and within 2 weeks we closed on this house. It was a great deal for everyone because of the following things:

  • The seller got out of a sticky situation
  • The bank now has continued payments
  • We got the deal!

 

So below is the after video of what the property looked like after we fixed it up!

 

After Photos:

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What was cool about this property is…it didn’t need that much work and the rehab only took about 1 week to complete.

 

In Conclusion…

I learned so much about this deal, not only was it my first fix and flip project. But it enabled me to look back and see how far I truly had come from starting out wholesaling a bunch of properties to now.

Not only was I able to buy a home at a great discount and make money off of it. But I also achieved the following:

  • Made more connections
  • Learned a new way of doing business
  • Saved a home owner from foreclosure
  • Saved the bank a problem, by taking over the payments!

All in all, this was a very good experience for me!