Park City Ski in/out Fix and Flip LESSON LEARNED!

[Steele Dewald]

Investment Info:

Condo fix & flip investment.

Purchase price: $680,000
Cash invested: $184,000
Sale price: $1,325,000

At the time of this purchase, we were closing on a previous fix and flip that we knew would reset the market for remodeled condos in this building. We were able to close on it at $536 Per sq/ft. Given that we were closing on the other unit at 1,088 per ft I figured we could come close to that with this unit. We went a little bigger on the remodel because the location in the building wasn't great and we weren't able to add AC. I learned a great lesson on this deal, I will never again buy a unit until I am positive I can add AC. We ended up selling the unit for $1045 Per ft