Flip in Aurora, CO that we lived in while working on it.

[Michael Janzer]

Investment Info:

Single-family residence fix & flip investment in Aurora.

Purchase price: $308,000
Cash invested: $15,000-$20,000 with marketing/staging as well.

Lived in our first flip for 8-9 months and worked on it slowly while we raised the money to invest back into the home. Was mostly cosmetic issues that were still able to deal with living in it. Currently under contract for $405,000, closing on 9/30. Represented myself as I'm a Realtor here in Denver so I saved myself commission on the buy and sell side.

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

Don't have capital to start BRRRRing quite yet, so my wife and I decided to live in a flip for a little bit to build capital. Looking into hard money a bit more down the road however, just don't want to over leverage.

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

MLS, I'm a licensed agent. Could tell it was a great deal and snatched it up quickly.

How did you finance this deal?

Traditional financing.

How did you add value to the deal?

New flooring, paint, counters, bathroom updated, kitchen updated, new appliances, maintained landscaping really well.

What was the outcome?

Going to come out about 70k ahead in 9 months time.

Lessons learned? Challenges?

Flooring was a pain since the past owner had 5 layers of flooring and a sub floor. Doors are more expensive than I thought, everything was more expensive than I thought. But we went into this knowing it was going to be a bunch of lessons learned.

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

Definitely. Myself as the agent haha, able to spot really solid deals on the mls and worked with my own preferred lender (traditional financing).