Just finished my first "Flip"

[Nathan Golding]

Hey been reading up on this forum for the last two-three months.  I am 23 years old working as a Project Construction Manager.  I bought my first house just under a year ago that was a 1985 mobile home for 10k.  I just sold it today for 13k after owning it for a year.  It was originally a gutted shell with no finishes.  I put about 2k of new materials into it and 100 hours of time.  This house had a lot of first for me.  First time installing carpet, vinyl, and replacing a bay window.  Definitely nice to have a low risk property for the learning curve.

The few big mistakes would probably be having a big bubble/wave in the kitchen vinyl and losing the title in the move and not finding out till the day of the sale.  

Now I figure I made 500 dollars not including the lot fee each month since I was living there so not great but the things I learned where worth all the effort.  If I include the money I saved from not renting an apartment this flip saved/made me 3200 dollars to put towards the next investment (thinking about a buy and hold duplex).  This will probably happen in a year since I just bought a real house last month that I am working on fixing up that will be my personal long term house for 10 plus years.