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Denver Investment Property

This is a flip investment I recently completed myself. It's an interesting piece of Denver real estate in one of the 'hot' neighborhoods: University Hills.

I made an offer on the day it was listed at $1,000- OVER asking price. Five other offers had arrived in the two days it was listed. Apparently, I got it by $200- over the next offer. This is typical for one of those magic opportunities that pop up about once a month.

Investment Property  

Flip House

Before
 
After
remodel   Denver

The Numbers:

Project
Cost
House and Structural inspections
647.00
Building Permit
110.00
General Contractor - drywall, bathroom, etc.
5,715.99
Plumbing, new shut-offs and installations
1,467.08
Electrical; ground all outlets, install fixtures
1,811.50
Trash hauling
562.00
Landscape; trees and drainage project
1,345.57
Paint; materials only
666.57
ACE Hardware - misc hardware
377.55
Home Depot  - misc hardware
302.39
Lowes - most of the fixtures and plumbing
1,489.03
Misc Hardware - various stores
165.08
Concrete Repair - huge back patio repair
1,640.00
New Carpet and padding for all rooms
1,572.64
New Tile - for hall, ktichen and bath
428.74
Kitchen Countertops - custom cut formica
524.51
Total Remodel Costs:
18,825.65

After the six week remodel project it appraised at $55,000- more that I paid for it.
Being in a hot neighborhood it rented out within a week for a nice positive cash flow.