First deal, live in flip

[Austin Anaya]

Investment Info:

Single-family residence fix & flip investment in Loveland.

Purchase price: $350,000
Cash invested: $30,000
Sale price: $455,000

First primary residence, this was a live in flip. Updated bathrooms and kitchen, as well as exterior of the home and many small fixes throughout the home as well.
Rolled over 100% of profits into new primary and used the rest to start up our company.

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

I was currently renting and when the home was presented to me I had enough money saved up to buy it with an FHA loan. I knew I could add value and profit later on.

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

A coworker was moving and talking about listing the home on the market. I was able to make a deal with him on it before it was ever listed.

How did you finance this deal?

FHA loan 3.5% down payment

How did you add value to the deal?

Updated 2 bathrooms, the kitchen, added a fence outside. Repainted the interior of the home as well as the entire wooden deck outside. Updated lighting and small fixes throughout the home.

What was the outcome?

After all expenses 75k
I then used this money to buy another primary residence, invest into more stocks/crypto and even start a new company.

Lessons learned? Challenges?

Never underestimate a project, once you start it you never know what your going to run into and you have to handle it to complete the project!

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

Kerri and Ray Navarro with RE/MAX Momentum. They were amazing to work with!