Lessoned learned from Arvada SFR flip with Structural Problems

[Bo Birkeland]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $310,500
Cash invested: $140,000
Sale price: $535,000

This flip was a bit of a learning experience. We knew going in there were major structural issues. However getting the permits approved to put tie-backs and wall anchors in took a lot longer than originally planned for. The whole rehab project hinged on the structural being completed in a timely matter. But working with the Arvada city to get permits took months which was not originally budgeted for. Once the tiebacks were in, we were clear to rehab the house, and the project commenced and finished up nicely. Thanks to a hot market, this property sold for way more than the original ARV.