East Austin Wholesale Fix and Flip

[Sheila Smith Oliver]

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $227,500
Cash invested: $110,000
Sale price: $400,000

Purchased from New Western

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

Austin's booming market

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

New Western wholesaler

How did you finance this deal?

Hard money

How did you add value to the deal?

Converted carport to garage with automatic opener. Full remodel and landscaping.

What was the outcome?

Market did slow around the time of listing with several homes to choose from. Still sold above original expectations due to appreciation. Had a Section 8 tenant for the first few months.

Lessons learned? Challenges?

Hard money loan for 6 months was a tight window considering the current tenants lease and will be closing a week late.

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

KR Remodeling