Live-In Flip in Phoenix, AZ
Investment Info:
Single-family residence fix & flip investment in Phoenix.
Purchase price: $200,000
Cash invested: $390,000
Sale price: $390,000
This wasn't our intention when we bought our first home, but this our second live-in flip. We are just starting to get intentional, and looking to get into buy and hold investing next.
What made you interested in investing in this type of deal?
We needed a place to live, and this home was under-valued. We had sold a smaller home for more than the purchase price of this home, and we didn't want to miss the opportunity.
How did you finance this deal?
We did conventional financing.
How did you add value to the deal?
We did simple remodeling. We repainted (by hand!) the exterior and inside. We replaced the flooring. We remodeled the backyard and added a pool fence.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We worked with Courtney Gallipo on all of our deals so far. We had been tempted to sell to a Zillow-type agency, but we are so happy we went with her. She got us $40k more AFTER commissions. Worth every penny. 1-602-750-2268.
Most Popular Reply
@Niki White Congrats on the live in flip! My wife and I have completed 3 so far. Sold the first, held the second as a rental and still live in the 3rd one. We did sort of a hybrid live-in flip/BRRRR type deal. Bought it at a discount, fully renovated it, refinanced and pulled most of our reno money back out and left 20% equity in it to avoid PMI. Looking at pulling a HELOC on it, just in case we need access to the equity. We plan to stay here while we transition into traditional flips but will likely sell/rent depending on the market when we find our forever home. Anyways, just wanted to share they hybrid model as an idea for you as you look for your next home! Good luck!