Fix & Flip in Yukon, OK (Oklahoma City suburb)

[Alyssa Dyer]

Investment Info:

Single-family residence fix & flip investment in Yukon.

Purchase price: $77,500
Cash invested: $12,086
Sale price: $136,000

Contributors:
Curtis Kupfersmith

Quick and easy fix and flip in an OKC suburb. The mechanicals​ and layout were in great condition, it just needed a facelift.

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

It wasn't a "home run" as far as the number go, but it was a straightforward deal. The budget and timeline was easy to predict and manage.

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

This was a call back from a direct mail lead. We showed up with 25+ other investors and managed to build a lot of rapport with the seller. Our offer wasn't the highest but we got the deal because the seller liked us.

How did you finance this deal?

Commercial loan, interest only for 6 months.

How did you add value to the deal?

paint, removed one wall, granite counters, refinished cabinets, removed built-ins, new flooring, new fixtures, wrapped beams and mantle in cedar, serviced HVAC, new vanities.

What was the outcome?

It was a great little find. Multiple offers the first day on the market. We profited $19,700 on the deal after construction and holding costs.

Lessons learned? Challenges?

We ran into a couple issues with quality of work on the paint job, but it was remedied fairly easily.

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

Lender: First Liberty, Heather Howerton
Title: Chicago Title, Haley Gann
Listing Team: Table Investments (my team)