South Seattle Fix and Flip

[Brian Suite]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $308,000
Cash invested: $17,000
Sale price: $370,000

Purchased a 1,500 sf home in South Seattle with an investor who put up a majority of the capital in cash. I strategically picked what upgrades would result in the highest returns on our sale and then oversaw the project. Our total spend was about $17,000 on repairs and updates and resulted in an increase in value of more than $60,000.

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

Seeing an opportunity in the market and also being able to help the owners who were in need of a quick sale to close on another house they wanted to purchase.

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

Our company was helping the owner to look for a new home and as a result she needed to sell he own home quickly.

How did you finance this deal?

The investor put up a majority of the funds and I took care of the entire project.

How did you add value to the deal?

I found the deal, negotiated it and carried out the transaction as the Agent for both sides. I facilitated the repairs and upgrades and was able to then sell the property as the listing agent in 8 days on the market.

What was the outcome?

Both the investor and I netted roughly $20,000.