All Forum Posts by: Denyse Nixon

I hired a GC to manage them, but it was not the GC that was right for me. I have since then found a new GC and we have just completed another flip and stayed within budget and time, so I am happy to say I am feeling like I am now on the right track as far as contractors go :)

Investment Info:

Condo fix & flip investment.

Purchase price: $700,000
Cash invested: $105,000
Sale price: $820,000

Beautifully updated from top to bottom! This beauty has 2 bedrooms with an office/den and 2.5 baths. Kitchen has a sleek clean look with new cabinets, new countertops, LG stainless steel appliances, ZLine Microwave drawer, gorgeous backsplash with new porcelain tile floors. Gorgeous open concept view from throughout unit. New electric fireplace in living room. New Tempur-Pedic carpet upstairs. Owned water softener, owned alarm, and nest thermostat.

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

Great location, easy flip

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

Wholesaler

How did you finance this deal?

Hard Money Lender and Private Investors

How did you add value to the deal?

Full interior remodel: Kitchen, bathrooms, flooring, paint, appliances, fixtures

What was the outcome?

Market shifted quickly during time listed and we ended up receiving a lower offer than anticipated and gained no profit and loss of some investment money. Although we worked quickly, stayed within budget, and did excellent work, the market shift was something we were not anticipating happening until later in the year. The shift is what really did it for us, in a negative way.

Lessons learned? Challenges?

Challenges were uncontrollable market changes and dealing with an entirely new market of buyers. Buyers in the area tended to be a lot more critical and analytical than buyers in middle class markets. Lesson learned is to stay within the market I am most comfortable and areas I know. Less risk even in a market shift because I know the audience better.

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

Yes, Theresa Marquez with DeLex Realty

Investment Info:

Condo fix & flip investment.

Purchase price: $700,000
Cash invested: $105,000
Sale price: $820,000

Beautifully updated from top to bottom! This beauty has 2 bedrooms with an office/den and 2.5 baths. Magnificent kitchen has a sleek clean look with gorgeous new cabinets, new quartz countertops, LG stainless steel appliances, ZLine Microwave drawer, gorgeous, handcrafted backsplash with complimentary porcelain tile floors. Gorgeous open concept view from throughout unit. New electric fireplace in living room which makes for the perfect spot to relax. New Tempur-Pedic carpet upstairs. En suites both tastefully upgraded. Owned water softener, owned alarm, and nest thermostat. Community features include community clubhouse, heated pool & spa, tennis courts, bike paths & golf.

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

Great location, easy flip

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

Wholesaler

How did you finance this deal?

Hard Money Lender and Private Investors

How did you add value to the deal?

Full interior remodel: Kitchen, bathrooms, flooring, paint, appliances, fixtures

What was the outcome?

Market shifted quickly during time listed and we ended up receiving a lower offer than anticipated and gained no profit and loss of some investment money. Although we worked quickly, stayed within budget, and did excellent work, the market shift was something we were not anticipating happening until later in the year. The shift is what really did it for us, in a negative way.

Lessons learned? Challenges?

Challenges were uncontrollable market changes and dealing with an entirely new market of buyers. Buyers in the area tended to be a lot more critical and analytical than buyers in middle class markets. Lesson learned is to stay within the market I am most comfortable and areas I know. Less risk even in a market shift because I know the audience better.

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

Yes, Theresa Marquez with DeLex Realty

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $435,000
Cash invested: $115,000
Sale price: $650,000

Beautifully remodeled home in Dobson Ranch! 4 bed 2.5 bath dream home got a complete make over with an open concept kitchen that sparkles with new appliances and quartz countertops, walk in pantry, new double pane windows. The second floor boasts 4 large bedrooms, a breathtaking spa like primary bath and walk in closet along with a walkout porch from the primary room to enjoy the beauty AZ has to offer! Fantastic neighborhood with easy access to the 101!

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

Great location, neighborhood, and potential

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

MLS - offered below asking due to updates needed

How did you finance this deal?

Hard Money Lender and Private Investors

How did you add value to the deal?

Full remodel including HVAC, plumbing, and electrical

What was the outcome?

Great profit

Lessons learned? Challenges?

Find the right contractors who understand time and budget

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

Yes. Theresa Marquez with DeLex Realty

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $424,900
Cash invested: $100,000
Sale price: $590,000

Beautifully updated home in fantastic location! This 3 bed 2 bath got a complete make over; new kitchen with stainless steel appliances, new double pane windows, tile throughout, air ducts replaced and ceiling raised, updated plumbing in bathrooms, kitchen and laundry, luxurious and spacious bathrooms, and so much more to list! Centrally located between Old Town Scottsdale and Tempe Marketplace. Very close to loop 101 and 202!

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

Great location, neighborhood and potential

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

Wholesaler, off market

How did you finance this deal?

Hard money lender and private investors

How did you add value to the deal?

Full home remodel including electrical, plumbing, and HVAC.

What was the outcome?

Great investment and profit.

Lessons learned? Challenges?

Finding the right contractors to get the job done within budget and on time

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

Yes. Theresa Marquez from DeLex Realty

Investment Info:

Single-family residence note investment investment.

Purchase price: $190,000
Cash invested: $25,000
Sale price: $303,000

Beautifully-updated 2bd/2ba home situated on the Painted Mountain Golf Course in lovely East Mesa! Great curb appeal leads you into the light-and-bright interior featuring wood look flooring and a barn door entry to the huge entertainment room. The lovely master has doors to the outside and an en suite! Step outside and enjoy your low maintenance back yard with stunning golf course views. Convenient location, close to shopping, restaurants, parks, the 202 and so much more.

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

This was our personal home that we updated and sold

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

First purchased off of MLS at a very low price back in 2016

How did you add value to the deal?

Updated atrium off of main bedroom. Updated Arizona room to a fully enclosed entertainment room with barn doors for the entrance off of the living room. Added a bar area in the entertainment room with an awning spring window connected to the kitchen. Upgraded the guest bathroom as a full instead of a partial. Cleaned up the front and back yard landscaping.

What was the outcome?

Made a great profit

Lessons learned? Challenges?

Could have increased property value by adding a bedroom instead of an entertainment room and upgrading the kitchen instead of the atrium and yard.