1600 sq ft 4br 3ba SFR DIY live in flip (with a baby!)

[Nicole Holcomb]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $640,000
Cash invested: $40,000
Sale price: $779,000

After completing 2 successful, quick live in fix and flips I bought my first property in my dream zip code. 5 days before close of escrow I found out I was pregnant, yikes! So my husband and I adjusted our plan to make this property a 2 year live in DIY fix and flip.

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

This was straight off the MLS, and needed lots of work that other buyers didn't want to do.

How did you finance this deal?

Conventional loan with a friend in on it for added borrowing power.

How did you add value to the deal?

This was a total gut job. We took down a wall to open the floor plan on the main level and reconfigured the upstairs to use some unfinished attic space for a master bedroom closet. We put in a new kitchen and 3 new bathrooms.

What was the outcome?

At the end of two years we had a beautifully remodeled home that sold easily when listed.

Lessons learned? Challenges?

Renovations are hard when pregnant! Morning sickness and fatigue slowed me down but we still managed to have the house done before the baby arrived.

[Scott Trench]

Wow! Congrats on the great live in flip. Way to combine lifestyle and returns here to have your cake and eat it too. And, amazing that you did so while pregnant!