Kitchen Renovation with refacing

[Michelle Ellsworth]

Investment Info:

Single-family residence fix & flip investment in Englewood.

Purchase price: $145,000
Cash invested: $15,000
Sale price: $189,000

Investment purchase, fix and flip.

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

Location and price

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

Searching MLS

How did you finance this deal?

Cash

How did you add value to the deal?

Renovation to kitchen using refacing.
Opened up wall barrier in kitchen to make open concept.
Replaced carpet with wood laminate.
Interior and exterior paint.

What was the outcome?

Hurricane Irma hit on day of completion. Slowed the selling process but the profit was slim but did put a renter in place for 4 months so overall hit the 30% ROI goal.

Lessons learned? Challenges?

You cannot compete with the weather!

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

Yes, Becky Sincup with RE/MAX Anchor.