3 Bed 1.5 Bath Flip in Portland Oregon

[Blake Wehling]

Investment Info:

Single-family residence fix & flip investment in Portland.

Purchase price: $360,000
Cash invested: $85,000

This one is a full scale rehab on SE Cesar E Chavez in Portland, OR. We've had to repair the foundation, install new electrical panel and completely replumb the water lines in the house. We'll also be installing a new garage door and all new windows in addition to the standard kitchen, bath, flooring, paint remodel stuff.

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

Found this one on the RMLS. We actually came in lower than two other offers, but our offer included $25,000 of earnest money that went hard immediately. That would have scared me on a first deal, but with 12 flips under our belts, it felt like a reasonable risk.

How did you finance this deal?

We financed this deal with some of our own money, along with private money from friends and family.

How did you add value to the deal?

The main way we're adding value is through the foundation repair that made in un-financeable previously. We're also upgrading a lot of the mechanicals and installing new vinyl windows.

What was the outcome?

Still working on this, more to come in April.

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

Foundation Repair done by Foundations First in Portland, OR. Fantastic company to work with!

Beth Benner of Living Room Realty in Portland, OR. She's been in the game for almost 20 years and understands how investors are making buying decisions.