Updated about 1 month ago on .
Wolff St. Villa Park Denver duplex flip
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $605,000
Cash invested: $125,000
Sale price: $965,000
fix and flip distressed duplex in Villa park neighborhood of denver. worked with city to split into two individual units for resale.
What made you interested in investing in this type of deal?
big upside in this area of Denver especially with the splitting of units and individual resale
How did you find this deal and how did you negotiate it?
MLS and myself
How did you finance this deal?
partner and hard money
How did you add value to the deal?
found deal, analyzed deal, helped with finishes and layouts then sold deal
What was the outcome?
Didn't make near as much as we expected. construction cost significantly more, holding costs were more and sale price was less.
Lessons learned? Challenges?
the location was not as desirable as we expected. the market stayed soft and construction is really expensive right now. learned to be way more conservative with rehab and arv numbers. also not to budge on negotiations. dont stretch.
- Evan Rice