Bid on 1st house

[Jason Davis]

Met with Realtor at the house today.

I put a bid on my 1st flip.

The house is owned by the City of Richmond. The ARV is $109-$129k.

My bid is for $30k. They had a bid at $25 and one for $27. My realtor spoke with the city and they said make it $30k. So I did.

Its a 3 bd 1 bath. I will make it a 3 bed 1 and a half bath.

I plan to list at $99,995.

The house was renovated three years ago. At that time it was renovated top to bottom. New roof, new electrical, new windows, new kitchen etc.

I am adding new laminate(off the shelf from Lowes) counters, new lighting, new carpet and Vinyl. New 6 pane; doors. I am adding a heat pump and the 1/2 bath, plus all new appliances. The main bath will get new tub surround, toilet, vanity, sink and all new fixtures.

Total rehab is $12,500ish and that over estimating the costs and I added 20% so lets say rehab cost are $15,000.

I am feeling good.
Everyone say a lil prayer that they except the offer. I think they will. I told the realtor that is they want $1k more that I was out. i hope he tells them that!!!

Thanks
will keep you up to date