Snohomish live in flip

[Annie Johnson]

Investment Info:

Single-family residence fix & flip investment in Snohomish.

Purchase price: $330,000
Cash invested: $10,000
Sale price: $385,000

Bought this home as a live-in flip. We were the first to make an offer the day it hit the market. I wish we would have held on to it and rented it out. A year later it was worth about 100k more. But happy we got to live here and get more experience. We did very little to the home but it made a big difference. New paint, can lights, fixed the fence and staged it beautifully made all the difference. Snohomish is a cute town.

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

We were looking for a single-family home under 340,000 in the Downtown Snohomish area we could add value to.

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

We found it on redfin. Made an offer the first day listed. I think we had 15k in earnest money.

How did you finance this deal?

convetional loan

How did you add value to the deal?

Paint, new can lights, remodeled bathroom, fireplace facelift, fixed up the yards and hired professional stager and photographer.

What was the outcome?

The market went up in our area. We made 30K in our sale. About the same amount as our downpayment. But we gained a lot of knowledge about live-in flips. Sad we didn't hang on to it as a rental.

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

Ginna Demme is an amazing agent in our area. Willow West stating is worth all the money. I want them to decorate my own house!