SFR Rehab #2 finished.. analysis

[Danny Day]

ARV $125,000
Purchase $70,000
Rehab $23,000

Estimated time frame: 2 weeks
Rehab time frame: 4 weeks
Budget: $18,000

Analysis: Went 2 weeks over the estimated rehab time frame because I decided to to some of the work myself (make ready, landscape). This ended up delaying the project for an extra two weeks while we worked at night after my 9-5. Not sure if this was the best play. At most I think we saved $1,500.. Ended up listing with a flat fee broker (1st time to try this) for $250 for the lifetime of the listing.

Upgrades:
-New roof
-New carpet
-New tile
-New paint (interior / exterior)
-New light fixtures
-New ceiling fans
-Master bath remodel
-Granite counter tops (whole house)

Lessons learned: Always change the locks on your rehab, on day #1. We had the previous owner come by the house, break in, and steal the shed in the back yard. Luckily we had their contact info and we told them we wanted the shed back or $200. We got paid for it, but it was an eye opening experience (that people would do something like that). Also had a hard time closing the deal up front with a HML we had never used before. After 26 days of not being able to fund the deal, switched lenders right before seller wanted to back out and closed it out in 3 days. We went over budget by about $5,000.. we made up for the loss on the flat fee listing end saving around $3,500 on selling cost.

Putting the sign in the front yard today, photographer comes by tomrorow. Should be on the MLS by Wedseday.

Here's to a quick sale!