Flip #1, Frye Ave House

[Sean McFadden]

Hey all I am finally following what I love doing and it is wonderful! Being 24 yrs old and having a decent job etc most people thought I was crazy for taking this project on. I will be updating this post as I go until the home is listed. This is also my primary residence till its sold, then I will move on.

Here it goes:

Numbers:

Listing Price: $145k

Purchase Price: $113.5k (w/$3.5k CC)

Projected Renovation Costs: $20-25k

Projected Sales Price: $185-190k

Projected Profit: $35-42k

Before Shots: (Of what I have changed in the past two months)

Front:

Living Room:

Dining Room:

And my Favorite.... The Kitchen

[Sean McFadden]

Taxes were taken in to effect within those figures. I plan to hold for 13-24 months, lowering capital gains to 15%. I love cutting grass, so that is basically free, and my mother is a relator.... so most I would be paying out of pocket is 3.5% or about 8k. I am not counting insurance and utilities as a cost as I would be paying them anyways if I were to be renting. But, so far the utilities have been very reasonable, ~$130 a month (I've been warm, but I'm single so not one to complain!) I have a 30yr fixed mortgage at 4.265%, so that is relatively low.

To answer your second question, yes I am doing everything. Once I have everything wrapped up, by summers end, I will have it professionally photographed, not my iPhone haha.