First Flip! Suggestions?

[Tommy Cangelosi]

Hello everyone!!

My wife and I are under contract to purchase our first flip. We have been investing for about 4 years and have mainly done buy and hold. I’ve been a top producing agent in the South Georgia Market for the past 5 years, and couldn’t let this opportunity pass.

We are buying a foreclosure from HUD and are eager to get to work! I was wondering if anyone had any tips or suggestions for us? We estimate the rehab to cost around $12,500, but have budgeted out 15K for the rehab. We are paying 90K for it and I estimate we will be able to sell it for 138-145. It's on a gorgeous 3.6 acre lot near our local Air Force base. We plan on doing new floors, paint, appliances, painting kitchen cabinets white, granite counters, new light fixtures, new vanities in the bathrooms, and landscaping.

Any thoughts or tips would be greatly appreciated!! Thank you!