My active and upcoming flip projects for BP members to follow

[Keith White]

I have been wanting to start a thread with all of my current projects and ones that will be starting shortly, but have been so busy lately have not gotten around to it. Here goes nothing, feel free to ask any questions as I hope sharing my stories can help others.

To begin with I do all of these projects with my buisness partner and lifelong friend and between the two of us we have the ability and knowledge to handle any construction task ourselves if we want to put some sweat equity in and if not know friends in every field which helps us keep our cost way lower then the average investor. We also had my wife get her realtor liscense to save us on closing cost and to help with networking. We grew up in the area that we invest in so have an excellent knowledge of the market and since it isn't a competitive area there is a lot of opportunity. Now to the houses....

Flip #1 (New Monticello home) 

    We had already flipped a house on the same street last year so we felt very comfortable with this project. 

3 bedroom 2 full bath 1,600 sq ft with 400 sq ft walk out garage

Purchase price: $74,265 after closing cost

Reno budget: $22,000 (8-10 weeks) 

ARV: $155,000

Here are a few before pictures don't want to overload now I will put together better side by sides when complete:

Here are a few current pictures of the project I took the other week I will get more pictures up once things get cleaned up more. I usually don't like showing pictures to friends and family untill the project is done but I think people here would like to see the process.

We removed the wall between the dining room and kitchen to allow for a more open space. Along with running the same driftwood grey flooring throughout the whole home. New cabinets granite counters are on order, hall bath and master bath are completely gutted and full remodels with relocating the washer/dryer out of the bathroom allowing us to expand the master shower, more pics to be coming soon.....

House #2 ( Riverside home)

This project will be a very fun project to track on BP as I have teamed up with a fellow BP member from all the way across the country in California that I met through the forums here. So a big shout out to our buisness partner @Norm Park (not sure if I did that right so that it will link to his profile). We are looking forward to building a great partnership where we can build off each other and would like to allow people to track this experience as it is new for us to take on outside investors but so far we couldn't of found a better fit.

3/4 bedroom 2 full bath 2,150 sq ft

Purchase price: $92,000 (estimated closing cost an additional $4,000)

Renovation budget: $40,000

ARV: $215,000

Closing has been pushed back on us twice due to the fact the deed was never transferred by the bank after the foreclosure but finally we got word last week that this was complete and they were waiting for it to be recorded with county and we should be closing in the next two weeks and beginning Reno immediately. Here are a few before pictures:

Little sneak peak of me in those photos there haha. This home is in a well known location of town and has a ton of potential. We will be doing a complete gut along with opening up both the dining and living room wall to make one giant kitchen/dining/living space. that space and the massive master bath will make the home stand out from anything in the area. We can't wait to start this project as it has some of the best potential of any of our properties to date.

Home #3 (In law flip)

This home will be our first flip directly to a buyer that we already have lined up. We will be completely Reno the house along with adding a in law suite where the now garage is. This project will not get underway for a few months but we are under contract with the current owner which we gave a deposit to and will be paying him the remainder once the completion of the monticello home. 

Purchase price: $80,000

Reno cost: $55,000

Agreed new purchase price: $175,000

I will get some before pictures soon and post them up.

Home is currently 3 bed 2 bath will be same 3 bed 2 bath with an additional 400 sq ft in law studio consisting of full bath jointing w/d room with the main home and kitchnette. 

Home #4 ( Historic Victorian home)

This is home is the most intriguing project and will be our largest and most amazing transformation to date and is drawing much interest in the area. So much so that we have been contacted by the local historic society to write a article on our flip of this project and docutument it along the way. 

This is an area that has huge potential growth and they are really trying to revive so we have really sparked an interest on their part into our buisness. So much so that they are excited to help us market the home and to find new buyers once this is complete that can work directly with us in which we would purchase the home and renovate and flip direct to them. There ar emultiple homes in the area that can be had at amazing prices with huge upside potential.

With us getting in on the ground floor and getting the support of the historic society and this article we are very excited. We are considering taking on another investor in this project as it does have very high Reno cost and we have a lot of current projects going on but we have not decided which route we would like to take yet. If anyone is interested feel free to contact me like I said I'm not sure we want to go that route but it is a option.

The home is built in 1882 and was once the parsonage home for a pro inane local church, it is registered with the state of Maryland as a historic home. It is anywhere from 4-8 bedrooms depending how you look at it 4 full bathrooms two living rooms a formal dining room and kitchen. 3,800 sq ft of living space and a front porch and a two story rear porch with a private master balcony.

Purchase price: $15,000 (yes 15 haha I could not believe I won't he auction that low it does need a ton but still)

Reno budget: $70-90k

ARV: $200,000 ( this might be conservative as two fully Reno homes on the same street just sold for $222,500 and a good friend of mine paid $250,000)

These are the only two Reno homes in the area fully done mine will be the third but this is where everything is expanding to and the city is determined to make this area great again so hopefully this can kick start me into getting in on the ground floor ESP with the support of the historic society and the local NHA.

I will get more interior pictures soon as I am meeting with the lady from the newsletter Sunday for a photo shoot and interview.

Wow that was a long post if you managed to hang in there and read it all thank you. I am going to try and keep this post active with maybe weekly updates of progress and answering any and all questions. Thank you and hope you enjoy