Stepping out of my comfort zone to get it done.

[Keith Thomas]

Investment Info:

Single-family residence fix & flip investment in Silverdale.

Purchase price: $272,000
Cash invested: $80,000
Sale price: $417,000

This was my first taste of doing a Rehab and i sure learned a lot. I am sorry about the pics I have since learned that I will pay for someone to do before and after pics and one of my learning experiences. I also realize that this is not easy and I should of never tried to be in a house trying to do a lot of the work myself and work a full time job. This home was a 4 bed room 3 bath split level about 2600 square.

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

This was a great neighborhood and good school district. 5 minutes from everything in Silverdale, WA

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

This property came to me through an ugly divorce that took several years to finalize. Just so happened that it took place as the Market was at a premium.

How did you finance this deal?

I borrowed from my Deferred Compensation plan through my job. ( retirement)

How did you add value to the deal?

I put in new flooring , paint new decks new stove and electrical upgrade. All bathrooms were re-done.

What was the outcome?

I worked with a great designer to just get colors and flooring and did all the leg work myself.

Lessons learned? Challenges?

Learned that finding good people or contractors is very difficult. I won't try and do it all myself. After listening to Bigger Pockets I realized that I need to do more planning instead of trying to do all the trades its takes to complete a huge project.

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

Yes. I would recommend him. He was great very informative. As I was looking he kept me safe. The feeling he was not going to let me get into a bad situation with the wrong house.