MT Live In Fix and Flip

[Jesse Hedeen]

Investment Info:

Single-family residence fix & flip investment in Kalispell.

Purchase price: $145,000
Cash invested: $90,000
Sale price: $330,000

We purchased this house on MLS back in 2011. It was a bank owned property that just happened to have a significant price drop in the middle of the day while I was browsing the MLS. The next morning our offer was accepted. Our initial plans were to fix the house up and keep it as a rental. However we ended up living in the house for 8 years, updating, renovating and enjoying our low mortgage payment. When we listed our house, we had 2 offers over asking price within 4 hours!

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

I knew the house was below market value because it needed a little work. There was great potential for a lot of sweat equity.

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

Browsing the MLS and refreshing the listing throughout the day. Took several weeks for this property to pop up. Like all good deals, this listing wasn't up more than 10 hours.

How did you finance this deal?

Conventional

How did you add value to the deal?

The house was 100% move in ready!

What was the outcome?

We sold our home very fast and at the full asking price.