Flipping in the Vail Valley

[Jamie Salyer]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $415,000
Cash invested: $60,000
Sale price: $639,000

There are so many opportunities to flip in the Vail Valley even-though there is an urban myth that you can not. The great part is that the competition is low compared to big cities.

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

It is located in an up and coming area and the ARV would still be in an very sought after price range.

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

I am a real estate broker and spotted it on the MLS

How did you finance this deal?

The buyer used a hard money lender

How did you add value to the deal?

The bedroom in the basement did not have a egress window and so it was not legal and could not be advertised as a 4 bedroom. We added the egress and under $1500 and poof...now its a 4 bedroom.

What was the outcome?

Sold for a huge profit to a happy buyer

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

I'm a real estate broker, I listed it in the MLS to sell and actually another real estate broker bought the home for herself.