All Forum Posts by: Brooke Roeder

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $385,000
Cash invested: $130,000
Sale price: $615,000

Fix & Flip Project in South Austin

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

Full time realtor & fix/flipper

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

Had this property under contract within hours of hitting the MLS, with a clean, strong offer.

How did you finance this deal?

Private investors

How did you add value to the deal?

Top to bottom renovation with high end designer finish out.

What was the outcome?

Broke the price/squre foot record for the neighborhood

Lessons learned? Challenges?

This project was a fun one because the property was in really great shape, as well maintained rent house. Because of this I was able to focus purely on the design, rather than fixing problems, and still ended up with a strong profit margin.

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

I acted as both realtor and design/renovator on this project.

Thank you! 2011. This was my first major project & house hack

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $240,000
Cash invested: $130,000
Sale price: $470,000

True fix & flip project. This home was dilapidated, a former cat-hoarder house, in an up-and-coming area of South Austin. Full top-to-bottom renovation.

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

I sold my vacation rental management company to focus more full time on fix & flip and development projects.

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

Wholesaler that I have a great relationship with. Moved fast.

How did you finance this deal?

Private investors + personal cash

How did you add value to the deal?

Top to bottom gut renovation

What was the outcome?

Smashed sales price record in the neighborhood

Lessons learned? Challenges?

ALWAYS INSPECT THE SEPTIC TANK prior to closing. Even if you're buying wholesale and have no option period/would lose your deposit if you back out. No obvious signs of septic failure (clogs, back ups, etc), but it turned out the tank was compromised. Project still profitable but it could have been a disaster in a different situation with smaller margins.

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

I acted as the realtor and developer on this project.

Investment Info:

Single-family residence fix & flip investment in Austin.

Purchase price: $400,000
Cash invested: $150,000
Sale price: $675,000

This project was what I call one of my "slow flips" where I renovated and lived in the property for 2+ years to secure capital gains exemption. This home again broke neighborhood records at the time. I'll share a few before & afters.

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

I had some short term goals of living in a certain area, so I took a "slow flip" strategy on this one. I purchased low, renovated, enjoyed the home for a few years and then sold, with cap gains exemptions in place.

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

This property was a great opportunity in an area of Austin that had not yet seen appreciation spikes. I correctly forecasted steep appreciation in this area, and found a home that was poorly marketed and outdated to renovate and temporarily hold.

How did you finance this deal?

Conventional lending

How did you add value to the deal?

I located, purchased, designed and acted as GC on the renovation.

What was the outcome?

Broke the neighborhood price/square foot record and avoided any capital gains on the purchase.

Lessons learned? Challenges?

First property that I renovated on septic. That was an adventure.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Austin.

Purchase price: $230,000
Cash invested: $150,000
Sale price: $720,000

Buy and hold duplex that was heavily renovated, house-hacked for a time, and then rented as a furnished rental for years. Sales price/sqft broke multiple family record for the entire zip code at the time.

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

I was looking very specifically for a duplex in a popular central austin neighborhood, that I could buy, renovate and house hack.

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

I found this on a drive-by. Right place at the right time. Owner/agent was putting a sign in the yard as I drove by. Convinced them to accept a pre-mls offer

How did you finance this deal?

Conventional lending

How did you add value to the deal?

Designed and general contracted a major top to bottom renovation.

What was the outcome?

This property was my first investment and a "house hack" as a young single woman. I lived on one side of the duplex for a time until I was able to leverage another purchase. After that it became a heavily cash-flow positive furnished rental.

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

I am the real estate and renovation professional ;)