top of page

FIX & FLIP: Summary & Final Results

Flip - Post 10 of 10


Purchase Summary: The purchase was smooth and easy. We deposited earnest money of $5K with a promise to close in 4 weeks. During the escrow period, the seller allowed us to begin demo'ing the property 7 days early in exchange for an additional $25K of non-refundable earnest money deposit.

Renovation Summary: The renovation went according to plan, with only a few inevitable hiccups. Several include:

  • The dishwasher couldn't fully open because the standard-depth refrigerator was too big - we swapped it out with a counter-depth version and our problem was solved

  • The entryway flooring never fully leveled, despite our best efforts; still, the buyer wasn't deterred and didn't care

  • The slider door locking mechanisms failed on the day showings began and the contractor had to make an urgent repair

Sale Transaction Summary: As we completed construction, the market shifted and slowed quickly. Further, several competing properties were listed the same weekend as us - and at slightly lower, more attractive price points. Finally, we experienced our share of bad luck with buyers. Events in our sales timeline:

  • Listed for $280K on the MLS

  • Nearly went under contract for $285K before showings began

  • Went under contract for $280K after the first weekend on market; buyer got cold feet shortly thereafter

  • Reduced price to $275K after a weekend of no offers

  • Reduced price to $268K after another weekend of no offers; went under contract immediately thereafter

  • Negotiated $1.5K in inspection items

  • Closed on property for a final sale price of $268K

Final Results:

Gross Margin: $268K-$180K=$88K (target=$100K)

Total Timeline: 15 weeks (target=10-16 weeks)

Evaluation: Even though profitability didn’t quite reach its target, the flip was a success due to: the knowledge gained, connections made, and the investment still paying off.

A special thanks to our partners at Denver Property Flip, who oversaw the construction process.

The Flip Summary: Week by Week in Photos

Videos & addtl detail are available on the Week by Week Blog Posts here

Day 0: "The Before" Photos

The property was dated in almost every way, except for a furnace and air conditioner which were both less than 5 years old. The property was well maintained, just old. A fresh face lift would transform this property, incl. new kitchen, bathroom, flooring, interior paint, popcorn ceiling removal, appliances, doors, fixtures, and hardware throughout.

Day 1: Demo

All unnecessary components were removed and staged for disposal the next day in a roll-off dumpster. Kitchen cabinets, appliances, flooring, tub, and lots of drywall were included in the demo.

Week 1: Popcorn Removal & Stage Construction Materials

We completed the demo and removed the popcorn ceiling in most of the condo. We also staged all the construction equipment and materials for the project.

Week 2: Cabinets, Open-Up Kitchen, & Bathroom Tile

We installed new shaker kitchen and bathroom cabinets, opened up the kitchen pass through, added tub and tile surround, completed the "de-popcorning", staged a few more construction materials, and prepped the bedroom closet.

Week 3: Doors & Ceiling Skim Coat

We wired the kitchen soffit, installed doors, and added a skim coat to the ceiling.

Week 4: Counters & Appliance Delivery

We installed kitchen and bathroom quartz countertops, drywalled the pass through, and took delivery of our appliance package.

Week 5: Level Floor & Paint Prep

We leveled the entry flooring, prepped for interior paint, and textured the pass through.

Week 6: Paint, Flooring, Appliance Install, & Fixtures

We painted the interior, added LVP and carpet flooring, installed kitchen appliances, and added new light fixtures and hardware throughout


Week 7: Clean, Stage, Photos, & 3D Virtual Tour

Before & After Photos

We hope you enjoyed stepping into our fix and flip journey.

For more information, please contact us at or at 720-334-6465.

We are Greenwood Estates Realty,

"The best real estate experience you've ever had."


bottom of page