Live in flip in jenks ok

[Michaul Hainzinger]

Investment Info:

Single-family residence fix & flip investment in Jenks.

Purchase price: $103,000
Cash invested: $32,000
Sale price: $175,000

3 bed 2 bath SFH in jenks ok. Dated everything original including green carpet throughout even in bathrooms! Living and kitchen blocked by walls made everything seem smaller. This was my first flip and house hack. I lived in it while we fixed it up. We opened it up by removing walls. We put in all new flooring, paint, and appliances. Added an island and all new cabinets in kitchen. The house came out amazing. It was a blast and I got it sold and was on the look for a new project.

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

I was just looking for a good first deal and this one was a good house in a great area and the timing was right.

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

I was put in contact with a whole seller and we went through numbers it made sense so we made a deal.

How did you finance this deal?

13 month interest only loan

How did you add value to the deal?

Full gut and remodel. Nice finishes modern styling. Took down walls to make open floor plan.

What was the outcome?

Had an above asking offer so i accepted but then the appraisal came back way low. Being a rookie I didn’t know how or even if i could fight it. So lost that deal but I was living there so it wasn’t end of the world. Eventually comps came up and got full asking price offer and we closed

Lessons learned? Challenges?

Know your comps and know that they could be different from time you start project to when you finish and actually sell