Austin TX Flip Opportunity

[Marcus Flores]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $445,000
Cash invested: $87,000

3 Bedroom, 2 Bathroom, 2 Car Garage Single Family Home in Austin, TX. A little over 1500 sqft and located less than 10 min from the Domain and the brand new Q2 Stadium which hosts Austin FC.

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

It has always been a goal of mine to invest in my hometown of Austin, TX. After investing for the past 3.5 years in Lubbock, TX I finally had the opportunity.

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

We sourced this deal from the MLS. The original listing price was $475k, and we negotiated that price down to $445 due to the fact we could offer cash and a quick 14 day closing. We also negotiated allowances to replace the roof and HVAC.

How did you finance this deal?

I utilized Hard Money to finance the acquisition as well as 100% of the renovation cost. The loan structure came out to roughly 80% LTC.

How did you add value to the deal?

We are installing white oak engineered hardwood throughout the home. Custom cabinetry, quartz countertops, stainless steel appliances, and brand new finishes in both the guest and mater bathrooms. We are also replacing the roof and installing new garage doors.

What was the outcome?

Stay tuned to find out! We are hoping to complete this project within the next 4-5 weeks and list before the holiday season.