Side by side Infill - Lakewood - Durham

[Zac Hales]

Investment Info:

Single-family residence fix & flip investment in Peterson.

Purchase price: $110,000
Cash invested: $630,000
Sale price: $870,000

Two new builds in Lakewood - Durham. These two were quite a challenge because of the heavy sloped lot, riparian rights, and stream buffer. I would of preferred not to be in it, but it was certainly a good learning experience.

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

It was actually not my call. A very good friend was the investor and I was on as an agent helping with selections and decisions as well as getting them sold.

How did you add value to the deal?

We made good selections and didnt over build or underbuild. The homes were the right size and price for the lot

What was the outcome?

Both sold off market. Took longer than anticipated but that was largely due to covid. The spike in prices certainly worked in our favor.

Lessons learned? Challenges?

Stream buffers, retaining walls, lots with narrow road frontage, supply chain issues

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

I was the listing agent. Happy to discuss both buyers agents. They were awesome. If youre reading this, you know who you are :-)