Diary of a first time flipper

[Jeff Hunt]

It's like getting a drink of water through a fire hose! So little time so much to learn. Offer accepted and due to close within the next week. The numbers I am estimating are as follows:

ARV (last week had no idea what ARV was)---- $99,000.

Re-hab---estimate---- $19,000

Carry costs, closing, comm---- $15,000

Paid---- $43,100

Estimated Profit--- $21,900

I'll update through the process.

So much great information on this site! Thanks to all.

[Jeff Hunt]

The home was a VA foreclosure. Estimates were done by my friend and myself. The carry cost were much lower than the estimate, approximately $4000 less. The re-hab budget was too low, ended up at 21k plus. Profit 29k...