Seattle Condo Fix & Flip
If you are considering getting into real estate investing, making the decision to “go for it” isn’t always easy.
For many, it’s all about focusing on that first single step – don’t worry about the whole staircase! You don’t need to be an expert in real estate investing when you do your first deal. Recognizing the value of focusing on one step at a time is a solid way to approach the journey.
This strategy of tackling one deal at a time is working well for Carrie and Avis. They have started small, done their homework, begun building a local network, have a written plan and focused on the math.
Using a bridge loan from Veristone, Carrie and Avis were able to finance the entire $105,000 purchase price of a Condominium located in the Lotona neighborhood South of Seattle. This is their second deal ever and they are tackling it like pros.
As an end unit with views of the golf course and pool, the potential was good for a stunning remodel. With a tight budget of $20,000 they were able to totally redo the kitchen along with the bathrooms – beautiful white cabinets and sleek quartz counter tops. With the right contacts and significant elbow grease new flooring, lighting, trim, tile, carpet and fresh paint were also squeezed into the budget. The listing price was set at $185,000 and is currently pending. Truly great work.
Carrie and Avis already have their next property secured and have worked out another loan from Veristone. They are an awesome example of investors who are focused on taking it one step at a time, but are full of energy and eager to execute their plan. Their goal includes flipping at least 6 homes this year. Each step is an active objective and with a growing network of industry professionals (Veristone included), there is little doubt that they will succeed at this goal and many more.