Our first Fix and Flip.

[Mike Wallin]

Investment Info:

Single-family residence fix & flip investment in Kelso.

Purchase price: $105,000
Cash invested: $165,000
Sale price: $219,900

Our first reo fix and flip. Lots of lessons learned. Great experience.

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

Was looking for something more costmetic that could be flipped quickly.

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

Worked with agent.

How did you finance this deal?

Cash.

What was the outcome?

Learned a lot. Made some money, enough to fund our next property.

Lessons learned? Challenges?

Took longer than expected. Plumbing suprises delayed us a bit. Decking was a larger project than expected. Replaced 18 full sheets of sheetrock after squatters destroyed much of what existed.

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

Worked with an agent, professional roofer, and a small team of handy guys.