My First Fix and Flip Project

[Taylor Fortini]

Investment Info:

Single-family residence fix & flip investment in Arvada.

Purchase price: $326,143
Cash invested: $103,512
Sale price: $540,000

My first fix and flip in Arvada, Colorado. Purchase this single family home for $326,143, spent $103,512 fixing it up and sold it for $540,000. I did this deal with a partner and we each brought half of the money, the cash I used was hard money and I did not have to spend any money out of my own pocket.

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

I am familiar with the market so knew from the beginning that the numbers would work out. I also enjoy the construction process and working with my hands. This was a very large project to take on as a newbie but in the end it all worked out.

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

This deal was a referral for someone that needed to sell their parents home. The property was in rough shape and they needed to sell quickly with little hassle.

How did you finance this deal?

I did this with a partner and was responsible for bringing half of the money for the deal, I took out hard money for my share.

How did you add value to the deal?

I managed the project and did a lot of work myself.

What was the outcome?

We came in 3% over budget on the rehab and sold for our "best case scenario" price.

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

My partner and I are licensed real estate brokers so we listed the property ourselves.