Million Dollar Fix & Flip

[Brooke Roeder]

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $535,000
Cash invested: $250,000
Sale price: $1,030,000

Million dollar fix & flip. I loved this project and really got to flex my design muscles on this one. Home was an estate in poor condition, but with lots of potential in a fantastic area. First home in the neighborhood to sell in the 7 figures.

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

I adored this home the moment I saw it pop up on the MLS. It sits on a 1/3 acre lot (huge for central Austin) and had a very specific and unique charm to it.

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

I won the deal with a very aggressive offer (at the time) and super clean terms.

How did you finance this deal?

Hard Money

How did you add value to the deal?

Extensive, full-gut renovation. High end design and finishes.

What was the outcome?

First home in the neighborhood to sell in the 7 figures

Lessons learned? Challenges?

Home ended up needing a complete sewer replacement. It was necessary and worth it, but be sure you have a comfortable amount of extra cash on hand for major unexpected surprises like this.

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

I acted a both the realtor and renovator/developer on this deal