Mid Century Split Level – Shoreline

[James Dainard]

Investment Info:

Single-family residence fix & flip investment in Shoreline.

Purchase price: $460,000
Cash invested: $115,000
Sale price: $850,000

We sourced this property off market via Door Knock. This dated home needed a full cosmetic facelift. We renovated the home with new windows, roof, systems, and opened the kitchen for an open concept layout. We originally were targeting a sales price for $50k less but about 40% into the remodel we noticed a value increase at larger homes with detached spaces. The garage was over 1,000 square feet so we framed in a detached office that added an additional 400 square feet to our footprint.

What was the outcome?

Check out this photos link for before and after: https://photos.app.goo.gl/2C9Rv1MxsSWKW2Zv8

Lessons learned? Challenges?

One major problem we encountered was a leaky water line which stretched over 100 feet. We had commercial bids above $20k to repair. We were able to complete the job for less than $10k by subbing out the project ourselves. We ran our own subs for: demo and saw cutting of street, plumbing, and road restoration. By hiring these trades separately, we saved over $10k in costs and only lost 1 week on our timeline.