Closing on first flip on September 16th in MA

[Jonathan Justiniano]

Hi guys

So I close on my first flip on September 16th in Shrewsbury MA. Was not planning on getting into a flip but an off market property came to me and I was able to get it at a significant discount.

The property is a single family ranch, 3 bed, 1 bath with about 1,300 sq ft. Purchased the home for $255k and comps show $350-$415 depending on condition of home and if a second bathroom is added.

Wanted to get your thoughts on which type of rehab I should do. The first option being a $30k rehab which is mainly cosmetic and some light repairs to the electrical and refinishing the kitchen and bath without getting into any rearranging of anything. This should be able to get me in and out quicker but give me a little less profit on the back side. The second rehab would cost about $70k and would involve much more, including rearranging the kitchen and adding new everything, redoing the bathroom, adding a second bath downstairs and opening up the floor a bit. This is the bigger Reno but will yield a bigger profit since comps so in the $400s.

Looking for some advice based on what others have found to work for them and also if anyone works in the Worcester county area would love some referrals on some General Contractors, Plummer’s and electricians.

Thanks