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Ferstl Flip

Status: Complete!


Sale Price:




NET PROFIT: $47,407


Belfast Flip

Status: Complete!


Sale Price:




NET PROFIT: $25,247


Redwood Flip

Status: In Progress




PROFIT (est): $20,000

Deal Log

One of the most exciting parts of real estate investing is watching a massive change unfold before your very eyes, turning a house with potential into a home with style!


While the blog will have a story of some sort about each property and the lessons learned, this is where I'll dive deep into each of my investments. I'll hit the highlights here, with a project page on each property depicting the update process, before & after photos, and lessons learned along the way. Leave a comment and tell me what you think!


Status: Closed, rehab in progress!

Source of deal: MLS

Description: 5br/4ba, 3,100sqft ranch home converted to a fourplex; three units contain 1br/1ba, one unit contains 2br/1ba

Projected timeline: Close August 30, 2019; begin rehab/update October 18, 2019; updates complete April 30, 2020

Actual timeline: Close September 13, 2019; 2 units partially updated with inherited tenants, 2 units vacant (rehab in progress)

Expected updates:

  • Repaint interior walls, baseboard, and trim

  • Minor bathroom update (replace laminate floors & vanity)

  • Kitchen update (replace laminate floors, cabinets, & countertop)

  • Replace interior and exterior doors

  • Repair or replace drop ceiling

Summary: Purchased on the MLS from an older couple liquidating their portfolio, this house needs some love and lipstick to bring up to full market value but is a great cashflowing opportunity in a great area! The house will be updated one unit at a time over the course of 6 months, with a goal of refinancing within the first year. I tell the story of the nightmare acquisition process in my blog, but I will continue to update the project page for this one with updates as it goes!

Exterior Pic1.jpg


Status: Closed, rehab in progress!

Source of deal: MLS

Description: Three side-by-side duplexes on one property; each duplex is 2br/2ba, 1,000sqft

Projected timeline: Close September 20, 2019; begin rehab/update Fall 2019; updates complete Spring 2020

Actual timeline: Close September 20, 2019; begin rehab/update February 2020, initiate refi April 2020

Expected updates:

  • Subdivide property into two parcels

  • Repaint interior walls, baseboard, and trim

  • Minor bathroom update (replace laminate floors & vanity)

  • Kitchen update (replace laminate floors, cabinets, & countertop)

  • Replace kitchen appliances (as needed)

  • Repair rear porch railing (as needed)

Summary: These duplexes were a unique purchase found on the MLS. Three units have been recently updated and rented out, with the other three having long term tenants and in need of repair. Purchasing a total of six units on one property proves challenging to finance and requires a commercial loan, so the property will be surveyed and subdivided into two parcels. Once updates to the three units in poor condition are complete and the units are rented, the property will be refinanced into 30-year fixed mortgages. Just like Rental #1, I've shared a blog post about this acquisition and am tracking my progress (sporadically) for you to follow!

Exterior Pic1.jpg


Status: Closed, rehab complete!

Source of deal: MLS

Description: 5br/4ba, 2,155 sqft duplex. One side is a 3br/1ba, the other is a 2br/1ba

Timeline: Closed December 27, 2019; began rehab/update January 2020; updates complete February 2020


  • Paint & repair exterior patios

  • Repair leaks in roof

  • Complete interior update in one unit

    • Remove wood paneling​

    • Install new flooring (LVP and laminate)

    • Replace kitchen cabinets & appliances

    • Paint throughout

    • Replace light fixtures

  • Minor repairs in second unit​

    • Replace water heater​

    • Replace range

    • Repair ceiling

Summary: Once again, this was a deal found on the MLS! The previous owner didn't live in the area and bought it in order to rehab. He improved one unit but not the other, and it seemed like he had grown tired of dealing with the property. This presented the opportunity to put in some time and money to rehab the second unit and bring everything up to par for the market. The units are currently listed for rent and will be a buy and hold producing long term cash flow, with no immediate plans to refinance. This was purchased with a conventional loan with a partner! More to come in an eventual blog post, but find more of the details on Instagram (@InvestDGP) and on the property page!



Status: Did not close! March 2020

This was another off market opportunity that fell through as a result of a combination of the inspection and the market downturn associated with Covid-19. During the due diligence process my partner and I had an inspector go out to the property and he found a number of problems, and these would have come to around $30,000 to repair. While the seller was willing to negotiate the price, he was not willing or able to pay the repairs himself. This meant my partner and I would need to fund the down payment, rehab, and now the additional repairs. Hard money lenders tightened their belts as a result of the current Covid crisis and rehab loans previously offered at 90% LTV were either dropped to 60% LTV or no longer available. The deal no longer worked out for us and we had to cancel the contract, but left on good terms with the seller and offered to help provide connections and resources to help him out. 


Lesson learned - do your due diligence and don't be afraid to walk away if the deal doesn't work!



Status: Did not close! March 2020

I have found my shadiest "deal" to date (despite stated remarks from the seller saying "I'm not shady"). A couple of days after signing the contract, the wholesaler notified me that the seller was considering backing out due to another buyer that neither of us were aware of. The next day I was notified that they would be going with the other buyer, and when I spoke directly to the seller she stated that they had been under contract with the other buyer for a month. Turns out the contract between the wholesaler and seller was a little loose and gave her the opportunity to look for other buyers until someone provided an earnest money deposit, which she did, but then never told us about and stayed in communication the whole time.

Lesson learned - check contracts, make sure you have a lawyer look them over, and don't do business with shady people!

Exterior Pics.png


Status: Did not close! October 2019

This turned into a fantastic learning opportunity. The inspection revealed that the gas packs were leaking carbon monoxide into the units and needed to be replaced. We could not come to an agreement on a seller concession that would make the deal still cash flow as required, so the contract was cancelled

596 N Broad St (Mooresville Duplex).JPG
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