Thursday, February 2, 2012
Lakewood Fix and Flip
This is my latest fix and flip: 7830 78th Ave SW in Lakewood, which I am buying from HUD, closing 3/12/12. I am purchasing it for $146,405 with HUD covering up to $2980 of closing costs. NWMLS puts the After Repair value at $311K-$357K. Virtually the identical house in move-in ready condition sold last summer for $314,000, the same time of year I will be putting this house on the market after it is remodelled.
This property is in a golf course community, surrounded by three golf courses, near Lake Steilacoom and two nearby parks. Houses like this do not come on the market very often. My contractor bids are coming in between $50-$75K so far.
I have done a home inspection and sewer inspection. All looks good.
I am looking for investment partners, financing, or a wholesale buyer on this, and open to ideas any investors may have. Please message me privately at HomeLandInvestment@gmail.com if you are interested!