The Selah House Fix and Flip

[Tricia Ewing]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000
Cash invested: $40,000
Sale price: $360,000

Bought a little ranchette updated it and flipped it using private money.

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

This was our first deal and the numbers made sense. We wanted to try our hand at a flip so we jumped in with both feet.

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

We dealt directly with the owner and negotiated.

How did you finance this deal?

private money

How did you add value to the deal?

We totally gutted the kitchen and removed a few walls from the home. Removed all of the dated flooring and lighting and repainted and updated the bathrooms. The home had a jack and hill style bathroom with two bathrooms connecting to each other. We put a wall between the two bathrooms so they were each separate and removed the fiberglass shower and tiled the master shower.

What was the outcome?

The property sold in june 2019

Lessons learned? Challenges?

it took MUCH longer to finish than we planned. As soon as the property was ready to put onto the market we had our first major snowstorm of the season. That didn't help to bring potential buyers into the home...