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Updated over 6 years ago, 05/20/2018

User Stats

7
Posts
1
Votes
Andrew Winter
  • Greenwich, CT
1
Votes |
7
Posts

First Flip Complete!

Andrew Winter
  • Greenwich, CT
Posted

Hey Guys! My girlfriend and I just finished completing our first flip in Bridgeport, CT-  Its officially on the market!  Let me know what ya think.  A lot of bumps and hurdles, but I think it turned out well. My girlfriend is on the way to becoming a realtor, so there is no stopping here.

Here are a few before and after pics!

User Stats

361
Posts
296
Votes
Nathan Platter
  • Real Estate Agent
  • Minneapolis, MN
296
Votes |
361
Posts
Nathan Platter
  • Real Estate Agent
  • Minneapolis, MN
Replied

Hey @Andrew Winter ,

Great before and afters! Would you be willing to share some of the numbers with the readers so they can get an idea of how the deal went?

Visually, looks great!

User Stats

3,034
Posts
2,019
Votes
Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
2,019
Votes |
3,034
Posts
Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

Looks great let's see those numbers!  

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User Stats

61
Posts
84
Votes
Stephen Herbert
  • Lender
  • Sacramento, CA
84
Votes |
61
Posts
Stephen Herbert
  • Lender
  • Sacramento, CA
Replied

Well done, Andrew - that's quite an accomplishment and undoubtedly the first of many to come. 

I'm wrapping up my first flip right now and will put it on the market in the next 2 weeks. I'll have a post coming on the numbers soon :)

User Stats

288
Posts
117
Votes
Mark Hughes
  • Rental Property Investor
  • Aurora, CO
117
Votes |
288
Posts
Mark Hughes
  • Rental Property Investor
  • Aurora, CO
Replied

Looks great. Congrats. Please update us all on how you made out. Was it a good deal. Any regrets or learning curve?

User Stats

43
Posts
19
Votes
Marcony Simoes
  • Investor
  • Fairfield, CT
19
Votes |
43
Posts
Marcony Simoes
  • Investor
  • Fairfield, CT
Replied

Nice Job! im in Fairfield, and i'm very familiar with Bridgeport, good flip and rental markets. We should get together.

User Stats

133
Posts
59
Votes
Alex Price
  • Cleveland, OH
59
Votes |
133
Posts
Alex Price
  • Cleveland, OH
Replied

Very nice @Andrew Winter

User Stats

239
Posts
44
Votes
Nick G.
Pro Member
  • Realtor
  • St. Petersburg, FL
44
Votes |
239
Posts
Nick G.
Pro Member
  • Realtor
  • St. Petersburg, FL
Replied

Congrats @Andrew Winter Looks like a nice job, please share some numbers when you can. 

  • Nick G.
  • User Stats

    601
    Posts
    384
    Votes
    Ronald Starusnak
    • Property Manager
    • Syracuse, NY
    384
    Votes |
    601
    Posts
    Ronald Starusnak
    • Property Manager
    • Syracuse, NY
    Replied

    Looks good, love those floors. 

    User Stats

    155
    Posts
    68
    Votes
    Michael McKay
    • Rental Property Investor
    • Jacksonville, FL
    68
    Votes |
    155
    Posts
    Michael McKay
    • Rental Property Investor
    • Jacksonville, FL
    Replied

    @Andrew Winter looks nice! Do you have a link to the listing?

    User Stats

    217
    Posts
    65
    Votes
    George Smith
    • Investor
    • Latham, NY
    65
    Votes |
    217
    Posts
    George Smith
    • Investor
    • Latham, NY
    Replied

    Great job. Getting through that first one is an education in itself.

    User Stats

    7
    Posts
    1
    Votes
    Andrew Winter
    • Greenwich, CT
    1
    Votes |
    7
    Posts
    Andrew Winter
    • Greenwich, CT
    Replied

    Hi everyone - thanks for the feedback. It was certainly a learning process. Our first time dealing with a realtor, first time dealing with a contractor, etc. We're looking forward to doing more and my girlfriend is taking her Connecticut real estate licensing exam this week. She created a blog that followed along with our first flip, and she's going to be writing real estate articles to help potential buyers/sellers understand the process and the markets. Here's a link to her blog as well as a link to the listing!

    https://handymandy.blog/

    https://www.zillow.com/homedetails/115-Texas-Ave-B...

    and finally.... here are the numbers!

    Purchase Price: 120,000

    Cost of Renovation: 50,000 (we budgeted for 40k)

    Listing Price: 229,000

    After commissions, holding costs, taxes, etc. we stand to make a profit of around 25,000-30,000!

    User Stats

    10
    Posts
    2
    Votes
    Michael Ramsay
    • Investor
    • Portland, ME
    2
    Votes |
    10
    Posts
    Michael Ramsay
    • Investor
    • Portland, ME
    Replied

    How are the showings going?  Did you end up staging the property?

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    User Stats

    13
    Posts
    1
    Votes
    Dustin Rhodes
    • Broken Arrow, OK
    1
    Votes |
    13
    Posts
    Dustin Rhodes
    • Broken Arrow, OK
    Replied

    Looks great! I am a newbie to the real estate investor market, and it is inspiring to see how well your first flip turned out. Best of luck for future jobs and sales! 

    User Stats

    8
    Posts
    0
    Votes
    Douglas Luviano
    • Wholesaler
    • Raleigh, NC
    0
    Votes |
    8
    Posts
    Douglas Luviano
    • Wholesaler
    • Raleigh, NC
    Replied

    Andrew Winter Hey, this is a great looking home. Andrew, can my girlfriend and I talk with you guys and get some tips?

    User Stats

    4,740
    Posts
    4,023
    Votes
    Jerryll Noorden
    Professional Services
    #2 Marketing Your Property Contributor
    • Flipper/Rehabber
    • Wilton, CT
    4,023
    Votes |
    4,740
    Posts
    Jerryll Noorden
    Professional Services
    #2 Marketing Your Property Contributor
    • Flipper/Rehabber
    • Wilton, CT
    Replied

    Hmmm...

    I see a few issues. Way to be the party pooper here.

    That door next to the dish washer would be a huge deal breaker for me.

    You would literally have to get out of the doors way every time you want to get out. That would get annoying really fast.

    Then, the pictures of the flip doesnt mean all that much to me. The numbers is what counts. The challenge here is not how to make it look nice. The challenge is make it look nice enough, on a specific budget.

    I for one would love to see the outside of the house.

    The way we do our flips is to always put one "wow" effect in any room f the house.

    And this can be small things.

    For example:

    That farm sink ($199,-) Sold that house. Every single buyer that walked through the doors raved about the farm sink. Small little insignificant thing, means that we went out of our way to make this house spectacular. It works.

    In my current flip I have a very similar feature I am going to add, but that is a secret for now ^_^

    Keep this in mind. This is  not about how YOUR house looks. You are competing with all the similar house son the market. Your house simply has to be more attractive to your competition. This can range for better looking, better finishes, but more than that, it can be as small as "I just have a good cozy lovely feeling being in this house", that will sell a house!

    Honestly, I think you bought it for too much.

    How much did you spend on reno? And who did that bathroom? The workmanship is not good at all. And never use grey grout with subway tile. I really have no idea WHY people do that. It looks ugly, dirty, and you can see EVERY bit of poor workmanship clearly because the grout is darker than the tile. I know it is useless to say all this now, now that you are done but, I guess for next time.

    This is your first one. And you completed it. That is really quite an accomplishment. I see a lot went wrong and you guys kept your head up. Just do you next one and make sure you learn from every flip you do!

    Gaadamn I am good right?

    • Jerryll Noorden
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