Heavy fixer SFR flip success

[Robert Laird]

Investment Info:

Single-family residence fix & flip investment in Milwaukie.

Purchase price: $185,000
Cash invested: $85,000
Sale price: $355,000

Contributors:
Justin Leithem, Carlos Carbajal

Fixer single-family home we completely renovated. Since we fixed the foundation and the remodel was more intensive than expected, we listed in fall. Unable to get the sales price we were hoping for, we refinanced the property and rented it out. Finally sold 7/7/2020

How did you finance this deal?

LendingHome

How did you add value to the deal?

Whole house remodel

What was the outcome?

Purchased the property, renovated, rented the property for several months and sold.

Lessons learned? Challenges?

Do not over remodel

[Account Closed]

Nice work @Robert Laird! Could you explain more of what you mean by "do not over remodel?" Did you end up adding more remodeling value than what potential buyers in your market initially wanted to pay for?