Finished my First Flip! 55K profit on Character 2 Story

[Brady Moxham]

Just wanted to thank everyone for all their help learning to get into this profession. I finished my first flip this week in Manitoba Canada. Bought a 1905 character home that needed huge upgrades. Bought in Feb of 2020, sold in Feb of 2021.

Financials: 

-Purchase Price $209K 

-Rehab cost was $48,000 (mix of construction loan and personal loan) 

-Sold for $325K and was only on the market for 2 days! 

-Profit of $55 000 after closing and realtor costs! 

Rehab

-Tear down walls to create open concept

-New Ikea Kitchen on main floor with higher end finishes I purchased afterwards (previous owner had business and kitchen was upstairs) 

-Tore out old water radiant heat and pipes 

-Installed brand new Natural Gas HVAC and all duct work

-New flooring on main floor 

-Redid wood stairs that were covered with carpet 

-Installed new fence

Loved the journey however long it took! I am already onto my next flip a bungalow with a granny suite!