Yamhill Oregon Investment. Im finally adding my investments to my profile.

[James Hensley]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $325,000
Cash invested: $45,000
Sale price: $500,000

When we purchased this rundown house with 7 acres on the river it predictably smelled like wet dog, cat urine and general disappointment. It was a small unorganized three bedroom, one bath with an added on stairwell that was approximately two feet wide and five feet tall.

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

This is our typical deal, slow fix and flip, or you may call it live and flip. We live in them while we fix them, we do all the work ourselves and sell them two years and one day after purchase.

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

I used zillow alot at this time and I had an amazing Oregon realtor, Julie Friedrich. We saw it three hours after it was listed, put in offer in before we left and had it under contract by the next morning.

How did you finance this deal?

FHA 3.5% down, 30 year term

How did you add value to the deal?

We completely gutted it, cut a hole in the side facing the river, built a two story entry foyer and put the stairs in it. We added a large picture window and one and a half additional bathrooms. Gave it new all new siding, new electrical panel and 60% new wiring, a metal roof, paint inside and out, a mudroom, gourmet kitchen and a pantry. As a bonus we painted the old dairy barn to match and trenched electrical out from the house, added lights and outlets including 220V. Intense project.

What was the outcome?

Solid financail outcome, quick sale, learned aboutwell issues and remediation.

Lessons learned? Challenges?

Very trying experience dealing with extended family as coworkers, would not reccomend working with family on such a big project unless you have worked with them before on similar projects.

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

Agent: Julie Fredrich, (503) 329-0233, with More Realty 14945 SW Sequoia Pkwy No 150, Portland, OR 97224. Highly recomended.