All Forum Posts by: Kim Evans
Kim Evans has started 3 posts and replied 5 times.
Post: Looking for a flip-and-flix on a rural property in Mendocino
- Posts 5
- Votes 2
Send me your contact info, and I will reach out.
Kim
Thank you!
I've been a member for a while now, but I am just now starting to reach out to the community. My husband and I bought lake property and built a beautiful small home, which we used as a weekend retreat for about a year. We then bought a single-family home to try our hand at flipping. We bought the house for $310,000.00, have put about $70,000.00 and it is going on the market next week at $499,000.00.
We have recently sold the lake house and are working towards moving to Northern California to continue our real estate ventures and open group homes for adults with disabilities, as I have two sons with autism.
Hope to see you at BPcon.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $310,000
Cash invested: $75,000
The house will be going on the market next priced at $499,000.00
What made you interested in investing in this type of deal?
Quick cash
How did you find this deal and how did you negotiate it?
I found online and used my realtor to negotiate to a price I felt comfortable with.
How did you finance this deal?
Hard Money loan
How did you add value to the deal?
We made the home have a more open concept, gutted the kitchens and bathroom, and made an old house new and beautiful.
What was the outcome?
Going on the market next week, priced at $499,000.00
Lessons learned? Challenges?
Next go round, we will hire more professional help versus using friends and family on weekends. My husband will be leaving his job to focus on this full-time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I have a realtor that I love, Erin Cagle, and an awesome finance guy, Terry Lawson, with Capital Fund 1 in Brentwood, TN
Post: Looking for a flip-and-flix on a rural property in Mendocino
- Posts 5
- Votes 2
I am having trouble locating a fix-and-flip loan on a house we plan to flip and then refinance and turn into a group home for adults with disabilities. It is located in Laytonville (Mendocino County) and has 32.5 acres. Anyone?