First Flip Complete!

[Andrew Winter]

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!

[Nathan Platter]

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!

[Brian Garrett]

Looks great let's see those numbers!  

[Stephen Herbert]

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 :)

[Mark Hughes]

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

[Marcony Simoes]

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

[Alex Price]

Very nice @Andrew Winter

[Nick G.]

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

[Ronald Starusnak]

Looks good, love those floors. 

[Michael McKay]

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

[George Smith]

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

[Andrew Winter]

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!

[Michael Ramsay]

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

[Dustin Rhodes]

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! 

[Douglas Luviano]

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

[Jerryll Noorden]

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?