Fix and Flip in Seattle

[James Dainard]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $310,000
Cash invested: $90,000
Sale price: $549,950

This home needed a lot of work! The location was good, and I was confident that I could get all of the work done, at a decent quality for a negotiable price. As Seattle continues to grow, people are pushing further outside the city and looking for affordable houses. This one could go on the market at a decent price and comparables in the neighborhood were selling well.

How did you finance this deal?

I used a hard money loan from Intrust Funding.

How did you add value to the deal?

This was a studs-out remodel. The house had a good skeletal structure, but everything else needed to go. The kitchen is a huge selling point on a house, a lot of the reno budget went towards updating all the appliances, and giving the space a nice clean feel.

What was the outcome?

The outcome was great! I made a profit on the property, and it went pretty smoothly!

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

I always work with Intrust Funding for my hard money loans.