Portland OR Zombie House Fixer

[Julie Yarnall]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $365,000
Cash invested: $115,000
Sale price: $530,000

Fix & Flip

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

Margins

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

Wholesaler, negotiated $15,000 down from their price d/t amount of garbage left on property, lots of hauling fees on this one.

How did you finance this deal?

Hard money

How did you add value to the deal?

Complete remodel, added half bath, added new systems.

What was the outcome?

Good, sold in 30-days.

Lessons learned? Challenges?

Weather became a challenge, Portland had a huge ice storm in January when all my plumbing and electrical was going in. Weather delayed the project. Learned to add more time for moving the electrically meter.