Customer Spotlight: Sally’s Oregon Fix & Flip
For our newest Customer Spotlight feature, Veristone would like to introduce Sally, whose latest fix-and-flip was a huge success.
Veristone: Hi, Sally. Tell us about the home you recently purchased.
Sally: I attended an auction and bought a 3-bed 2-bath single family home that was in a great location but really run down. It seemed like a perfect candidate for a fix-and-flip. Once completed, my listing agent, Sherri Gregory with Keller Williams, helped me through the whole process of getting on the market.
Veristone: How much was the purchase price?
Sally: I got an auction loan from Brady Regier at Veristone for $67,000 and bought the property for $97,000.
Veristone: Why an auction loan?
Sally: Well, I wanted to act fast and didn’t want to have to use my own money. There are no traditional lending options available and Veristone provides money at the auction to purchase properties. I literally just have to show up and they take care of the rest.
Veristone: What improvements did you make to the house?
Sally: In addition to painting the exterior and interior, we installed some really beautiful distressed laminate flooring along with new baseboard trim and fully wrapped windows. In the kitchen we put in new appliances and granite countertops, and added some elegant French doors leading from the dining room to the patio.
Veristone: How much did the improvements set you back?
Sally: I spent $15,000 total on the fix-up.
Veristone: And the question we all want the answer to, of course, is how much did you sell the property for?
Sally: We listed it for $169,000 and sold it for $165,000.
Veristone: How long was the home on the market?
Sally: This is the best part: Zero! We sold it before the listing was even live. The buyer paid cash. Sherri did an amazing job!
Veristone: Wow! So your experience partnering with Veristone was a positive one?
Sally: Absolutely. Brady was great to work with, and the entire experience was quick and painless. This is definitely won’t be the last joint venture with Veristone.
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Veristone does not finance owner-occupied properties.