All Forum Posts by: Ashley Sivils

Yes, all outsourced and yes tons of unexpected items. 

We had no idea we had to get a brand new furnace and air conditioner, was not expecting the work we had to do AFTER the foundation with all the yard items. We'd fix one part of the house and then realize we had to fix something before that so some items were redundant and had to be done twice. 

Next flip I will be more careful with that aspect! 

Investment Info:

Single-family residence fix & flip investment in Leavenworth.

Purchase price: $70,100
Cash invested: $49,722
Sale price: $156,000

First Flip project! Wow what a learning experience. If I would tell my past self anything it would be THE DEVIL IS IN THE DETAILS!

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

I recently have gotten into the real estate game and this was one of the ways I could make a significant amount of money in a short amount of time. It was also a risk and I love taking big risks and love a challenge.

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

This deal had been floating around for awhile. A few investor clients were looking at it but no one wanted to buy it because the foundation was such an issue. Figured if no one was going to jump for it, I would.

How did you finance this deal?

Got cash from a private partner.

How did you add value to the deal?

We redid the entire home. New roof, new cabinets, granite counter tops, new HVAC, new windows, corrected the foundation, added a patio and redid the shed out back (not sure I needed to do the patio), new flooring, new exterior and interior paint... list goes on!

What was the outcome?

Outcome was WE GOT IT SOLD and MADE A PROFIT!

Lessons learned? Challenges?

The house sold slower than it was supposed to. It sat on the market for 42 days when it should have been gone the first week. There were still minor things to finish but we were impatient and put it on the market anyway. People would go through the home and would see something wrong and then would automatically cross the house off their list. Finally, we went back in finished the details and literally 4 hours later got an offer.

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

I am a real estate agent so I handled that part for my partner and I.

Hello everyone! I have an air bnb in Kansas City and I'm looking for someone to help me clean the unit when I am unavailable to. Does anyone have any good recs??

@Kim Tucker thank you so much! Will try that out. 

McLaughlin Roofing!! 

http://www.mclaughlinroofing.com/

They serve the entire KC Metro area 

@Jacob Compton I'm doing a flip right now in Leavenworth and we had MASSIVE foundation issues. KC Quality is who I used. Highly recommend. They know what they are doing and are fair with pricing. 

@Colin Douthit Ideally around the Plaza area down to 63rd, not east of 71, potentially Pendleton Heights, Plaza area all the way up to the MO river, and not west of Metcalf. Would be open to look outside of this parameter if it was a good deal! 

Hello, all! 

I am a newbie and I'm looking for my first house hack in Kansas City, MO. I'm a realtor so I have access to MLS and am looking every day for multi-properties but nothing is really looking great or in an area I want to be in. Does anyone have any tips/info on where else I can look to find a duplex or multi-unit property? I do not want to go over 4 units. I appreciate any advice or help!

Hello all! I am trying to figure out creative ways to get a loan to pay for my first rental property. I am paying rent ($1025) a month and want to purchase the rental (90k) in my hometown which is about 2 1/2 hours from where I live. As of right now my DTI is over by around 200 dollars so it's looking like a conventional loan won't work out. What are my other options???