Austin Texas Flip House

[Briana Headley]

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $385,000
Cash invested: $100,000

Anticipated completion 6/1/2021 and sale price of $750K

We found this 1970's original, well maintained gem with the best schools in the district. It is close proximity to downtown and have completely rehabbed the property- Photos coming soon

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

When we originally bought it were did not even take market appreciation into account. We felt confident in being able to flip it for $100K profit and a 6 month turn around time. This made the deal worth while, however we have seen an incredible boom in this market and have doubled our profit.

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

I am a realtor so I found it on MLS as soon as it was listed. I negotiated my commission to make us the highest offer.

How did you finance this deal?

80/20 finance conventional

How did you add value to the deal?

In addition to renovating the whole house, we added square footage by removing an atrium and changing a work space in the garage to an enclosed laundry room.

Lessons learned? Challenges?

We started from scratch with our vendors, which was hit and miss. It was also our first time dealing with the city for permitting, so that was a learning curve