Flipping houses isn’t always as cute as it looks on HGTV, but here’s a real-life flipping success story that’s as cute as can be!
Flipping houses is often less adorable than Flipping Out makes it out to be, but check out the stellar renovation that Travis and Kerry just wrapped up on this 1,500 square foot 3/2 house in Cedar Park. Little City Investments financed the purchase and remodel for these flippers.
Travis and Kerry contacted Little City after they secured a contract with the sellers in early May. We closed on their purchase loan in early June, and they’re back on the market here in early August. Excellent turnaround time for this flip property – only about 60 days from purchase closing to marketing it.
This was a full remodel of the kitchen and both bathrooms, but the house was structurally sound and didn’t need major plumbing, electrical, or foundation work. Other than all new bathrooms and kitchen, other repairs included a new roof, all new flooring, siding repair, a new back deck, and a whole lot of clean-up. The borrowers are experienced and were able to totally change the look of this house for around $50k. Head this way for our top tips on surviving a rehab flip project like this one.
They purchased this house for $150,000, renovated it for just under $50,000, and it’s currently listed for $289,000. Like most of our borrowers, these investors did contribute some of their own cash to do this deal.
Do you think hard money might be a good fit for your next flip property? Head this way for a rundown on hard money vs bank loans, why we’re different, and why hard money could be the best decision for flipping houses in Austin or elsewhere.
Check out the amazing before and after below! Congrats to Travis and Kerry – We hope we finance the next house you flip!
Contact us for more information about financing for flipping houses. Little City is a direct lender for Texas real estate flippers and builders. Our super simple application process includes no bank statements or tax returns. Minimum credit score is only 525 and at less than 50% loan to value (LTV) even that can be waived. Yes, seriously!