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402 E 1st Street Suite 104, Cle Elum
Welcome to Project|RE's community page! Follow along for Fix & Flip with James Dainard!
CNBC just reported investors bought 23% fewer homes this quarter than last year 📉
The herd is sour on real estate. They’re waiting it out, hoping for better pricing
Here’s what they’re missing. Everyone stepping back IS the better pricing
Less competition, better deals. As an active investor, this has been the time to buy
You can buy today and do it better than you could 24 months ago
The time everyone waits is the time to buy
Full episode with Zachary Kepes out now on the BiggerPockets On The Market podcast 🎙️
Beat up houses are 10 to 15% cheaper right now 📉
The clean turnkey grandma houses still have competition. End users and investors with no value-add plan are paying up for those
But nobody’s fighting over the rough ones
We’re buying them cheaper than we were 12 to 18 months ago, and our rates are the same as they were back then
Same money, bigger discount. That’s where the opportunity is
Full episode with Zachary Kepes out now on the BiggerPockets On The Market podcast 🎙️
Hope is not a strategy ❌
27% of investors are buying less because they think real estate doesn’t work anymore
It works if you underwrite it correctly
They’re hoping for appreciation, hoping the roof doesn’t leak, hoping the AC lasts
We project worst case instead. Scope the sewer for 150 bucks before the tile goes down, or dig up concrete for 10K later with tenants in place
Hold a 10% reserve for unknowns. Don’t need it? That’s am******on for the next deal
Stop hoping. Start underwriting
Full episode with Zachary Kepes out now on the BiggerPockets On The Market podcast 🎙️
They stripped my house and kept the books đź“’
Found an actual ledger the squatters left behind, tracking their sales like a business
Toilets, 310 bucks
Doors, 491
Light bulbs, handles, and kitchen k***s, 193
They yanked the wire, the fittings, the windows, and wrote it all down
These guys track their budget better than my team does
He might be making more money stripping the house than we are flipping it
And this is exactly the kind of house we buy 🏚️
Got one like it? Send us the address
15 homes won’t sell and my average payment is 8K a month 📉
Here’s what you do when you’re in that spot
Refinance the ones below market. We’re taking rates from 10 to 12 percent down to seven and a half
Switch construction insurance to rental insurance. Costs drop again
And ask every lender for an interest reserve. One of my refis just came with 5 months built in, so no payment until then
Cash, debt structure, lower costs. That buys you time
Because pressure is what makes you make bad decisions
Full episode out now on the BiggerPockets On The Market podcast 🎙️
09/03/2026
Meet the Flippers from Million Dollar Zombie Flips!
Jared Holland: A seasoned investor with some fancy taste! Jared is a true deal ju**ie, just like me. He transformed a 1920s Craftsman hoarder house back into what it was always meant to be. We may have butted heads, but we were hugging by the end.
Cole Ruud-Johnson: A seasoned wholesaler takes on his first flip, and this might have been one of the grossest houses of the season. It had everything: a drug den, a house burnt to a crisp, a junkyard in the backyard, and maybe even a swingers’ den.
The Moran Family: We renovated my grandpa and grandma’s house. This episode features my beautiful mother, Claire, and the rest of our family. Megan and Ryan joined us and helped me ensure this house would not be torn down and would remain standing for another 50 to 100 years.
Buck and Will: Two down and dirty wholesalers wanted to test their home flipping skills. We laughed, we cried, and we yelled. They renovated a tired old split level home in Bellevue, Washington. By the end of this project, I felt tired and old, too.
Carrie: A longtime friend and 100% hustler in life, Carrie wanted to free up her time and move closer to financial freedom by flipping a house. She restored a BEAUTIFUL Mid Century Modern home in Edmonds that became one of my FAVORITE homes of the season.
Contractor Kenny: He has been one of my contractors for almost 15 years. Kenny found a HOARDER house packed with trash and rats, plus a squatters’ den in the backyard. He brought all hands on deck, including some goats!
Shawna: This boss lady, she’s really bossy, bought a house in Renton with a JUNGLE in the backyard. She did whatever it took to get the deal done, even lying on an old, crusty mattress. It went from real nasty to real profitable.
Megan and Ryan: The show, and the WORST OF THE WORST houses, could not have been completed without them. Our team took on a condemned home that should have been torn down and a mold infested house that was trying to KILL US.
A huge thank you to the teams at Heaton Dainard Real Estate and Intrust Funding | Real Estate Investment Lender for sourcing, selling, and funding our projects!
09/02/2026
Our new northwest contemporary is underway.
The property has been demoed, final floor plan has been spray painted out. Framing and mechanicals start this week. Quotes for excavating back yard to create walk out access from bonus are being obtained.
Quotes for metal roof, cabinets, and finishes all start now. Get ahead of ordering to save money and costs.
We are controlling the costs by:
Salvaging mechanicals
Keeping new layout inside existing structural beams
Keeping original charm - wood work, screens, cabinetry.
Our original budget was $400k, currently pacing at $350k.
Purchase: $2.8 million
Rehab: $350k
Resale: $4.3 million
How? Come see me at BPcon2026 in Orlando FL, October 2nd-4th and I’ll tell you at my “how to 2x your returns with value add investing” session. 🤫
Flipping this 1.15M house with none of my money 🤝
Intrust Funding financed 85% of the deal
My passive investor Dave brought the 15%, secured by a joint venture agreement
He handles the capital, I run the job, the design, the budget
160 to 170 into the reno, selling at 1.65 to 1.7
Half the profit each, no arguments, the JV defines who does what
Right partner, right structure, right deal
Stop feeding deals bad money 🛑
A capital call is when a deal runs out of money and investors get asked to put more in
Before you write that check, ask what the money is actually fixing
If it fixes the real issue, the income, the debt coverage, it can be the right move
If it’s a band-aid, you’ll get another call in 12 months asking for more
Taxes are up, insurance is up, and if income’s down, that can kill a deal
Full episode out now on the BiggerPockets On The Market podcast 🎙️
08/27/2026
New Flip Project in Bellevue WA
Purchase Price: $1.15 million
Rehab: $200k
Value: $1.75 million
This project has clean lines and mid century vibes. Late 1950s and out of date floor plan. Reconfiguring the primary bedroom and main spaces will be key 🔑 to get top dollar.
Scope of work:
New Windows - Black
New exterior doors
New Deck boards and railings
Landscaping to be cleared, new paver patio, new sod in back yard
New kitchen - new cabinets, counters, plumbing trim, appliances, tile backsplash
Reframe home into a 4 bed, 3 bath, formal primary with walk in closet
New electrical
New Plumbing
New mini split system
New Flooring
Metal railings for stair case
Bathrooms: Tile floors and surrounds, vanities and counters, lighting, mud pan in primary bedroom.
New Modern glass garage door, opener, track.
The market sucks…. then buy right. This is a perfect deal for a stale market, minimal layout changes, great location with a hard to find oversized yard. We paid $150k less than what the land was worth 12 months ago. Good product always sells
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Address
14508 NE 20th Street #200
Bellevue, WA
98007
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