Renton Washington Home

[Clint Reuter]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $460,000
Cash invested: $16,100

Purchased to live in. Added a huge deck and am getting ready to remodel the bathrooms and kitchen. Might remove a wall and take advantage of the view. May add a bedroom or two. Will likely sell but am considering renting too.

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

Was looking for a home to settle into. Would have stayed but ended up relocating for work.

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

Found it through Zillow. Made a fairly lowball offer after it sat on the market for close to 90 days.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Added a deck to take advantage of the view. Will do more remodeling this summer.

What was the outcome?

Looking to sell or rent.

Lessons learned? Challenges?

Always get a permit. Also...in hindsight, I should have bought a nicer property on a flatter piece of land. Not that this isn't a nice property, I just could have afforded more and should have bought bigger/nicer.

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

Melissa Dawn, Keller Williams, Kirkland WA. I can't recommend her highly enough.