Anatomy of a Flip
Risk, Renovate, Reward
In the heart of Austin, where vintage charm and modern ambition intersect, one sophomore investor took a risk on a property that others might have shied from. With a creative eye, Danielle Hunt transformed a worn 1950s ranch home into a show-stopping gem in just three months, while juggling motherhood and a full time job. The stunning renovation drove the home sale above market, closing at $2.5M.
We take a look at the whirlwind project that netted Danielle over $300,000. Hers is more than a tale of profit—it’s a dive into the risks, the renovations, and the rewards, of flipping a home in one of the most dynamic real estate markets in the country.
A Sophomore Shot
Danielle and Jason Hunt are a typical couple, two incomes, two small children, and no real-estate background.
“We moved to Texas in 2021 to a neighborhood that we absolutely adore,” says Danielle. “And the smallest oldest house on the block was for sale for over a year. Every time we passed it on our walk, we’d think, ‘If we put just $50,000 into it, that would sell it for a good profit.’ Well one day, we just decided to go for it!”
Bitten By the Bug
The small project was surprisingly manageable for executive and mother Danielle. After a lucrative sale, Danielle and Jason were buzzing to continue their real estate journey. Bitten by the bug, they quickly immersed themselves in the local market, reaching out to agents and wholesalers.
Luck soon struck when a wholesaler specializing in low-price flips found themselves with a high-value home on their books: 360 Mount Bonnell. Despite being outside their initial buy box, the Hunts were compelled to check it out.
The Sweet Spot
The first thing that spoke Danielle was the location. Nestled beside the scenic Lake Austin stretch of the Colorado River, the Mount Bonnell area offers a captivating blend of outdoor recreation, stunning views, and history. With good schools, custom luxury homes occupying some of the most prime real estate overlooking Austin, the neighborhood has very little turnover. Living in the area themselves, they understood this place.
A Quick Decision
“We visited the house and it was pretty automatic,” says Danielle.
“We had to do it. We had just 48 hours to make a decision. We had an inspector come in pretty much same day and we’d made an offer within 24 hours.”
Foundation. Roof. Electric. Check. Check. Check. With a positive inspection result, and an offer accepted, they needed funds. They turned to Backflip, who had funded their first flip.
Fast Financing
The Hunts were bringing all the profits from their first flip to the table for this deal, but with high-value investment like Mount Bonnell, closing costs were looking high. They needed to stay liquid enough to meet both opportunities and challenges.
Backflip’s loan expert suggested The Double Double, a hybrid debt and equity loan designed specifically to minimize cash to close. In 10 days they were fully funded: $1,439,000, with a $200,000 rehab holdback.
The Renovation
It was late February. With the clock ticking—just three months to peak sales season—Danielle dived into renovations.
“Most of it was cosmetic. But everything needed to be redone—all the floors all bathrooms, the entire kitchen. It was three/three [3 bedroom, 3 bathrooms], we made it into a four/three.”
But Danielle wasn’t going to turn Mount Bonnell into a flipper’s modern box. She was committed to keeping personality and history in the home. “That’s often missing here in Austin.” She sought to revive existing details, including a stone bench in the garden, and the home’s 1950s doors. “The doors had these super heavy handmade brass handles. While others might have tossed the doors, I kept them.”
But balancing quality with financial restraint was a delicate act. Danielle knew that cutting corners wasn’t an option for a high-end sale, but soon learned that strategic choices were essential to maximize return on investment.
She focused on high-impact areas, such as kitchen and bathrooms, and embraced the concept of less is more, especially when faced with the potential ripple effects of renovations.
“I tend to choose one luxury tile and one that is a little more cost-effective. That gives you a little more room to splurge on other items.”
“The lime-washing was unique. We did it on the fireplace, and we did it on the exterior of the home, to give it this antique, old world feel, which I absolutely loved.”
For the pool deck area, the initial plan to replace the concrete with limestone pavers was quoted at $55,000. That was a no-go. After extensive research, Danielle discovered skim coating, a technique for applying a specialized coating to the existing surface, which allows for a variety of finishes—including limestone. This creative solution literally saved $50,000 while offering a stunning look.
Disaster Strikes
Just a week before renovations were due to wrap, disaster struck: Heavy rains caused a leak at the chimney. Says Danielle: “It was coming down the fireplace. Not only did we have to fix the leak, but pull boards up to avoid water damage. I’d already had a specialty painter lime-wash the fireplace, so we had to redo that—And then it happened again a few days later! We had to do it twice before the leak was fully fixed.”
The Biggest Challenge
Leaks aside, in the end creating a team proved to be the hardest part of this job for Danielle. Bad sub-contractors led to mistakes, delays, and, more than once, another contractor coming in to do fixes.
“It was a really steep learning curve,” says Danielle. “One of the biggest lessons I learned was to vet your contractors. Ask for pictures of previous work. Ask to speak to people that they worked with prior. And once you find those people, do not let them go, and treat them well.”
Overbudget
The Hunts were grateful they’d kept aside enough cash for contingencies: “We probably went over close to a hundred grand,” says Danielle ruefully. “But with a $2.5 million home, people’s expectations are just much higher.” Given that in the end the house sold above projections by the same amount, there’s an argument that it was money well spent.
The final property, captured in a website dedicated to the home, is a testament to the work.
Lessons Learned
Going over budget is not a place Danielle wants to find herself in again. For her next project, which is even more ambitious than the last, she’s committed to being clear on costs from the off, bringing her General Contractor with her on a walkthrough. Her key advice: Keep your contractors close, and have them along for the whole ride.
The success of top-notch execution in a tough housing market is a testament to the resiliency of “value-add” business plans, which Backflip is uniquely focused on supporting.
Watch more of Danielle’s story here.
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