Live-in flip -- ended up being a flop

[Michelle St. Claire]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $70,000
Cash invested: $110,000
Sale price: $185,000

This was my first flip, and live-in flip at that. I ended up over-spending because I was living in it so added features that I wanted and didn't necessarily add value (like water filtration system). Lots of lessons learned though and it was a great (and stressful) experience. I did not make money on this.

[Account Closed]

Quote from @Michelle St. Claire:

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $70,000
Cash invested: $110,000
Sale price: $185,000

This was my first flip, and live-in flip at that. I ended up over-spending because I was living in it so added features that I wanted and didn't necessarily add value (like water filtration system). Lots of lessons learned though and it was a great (and stressful) experience. I did not make money on this.

But you got started! Congratulations!
Flipping is hard, especially in today's downward market. But, no worries, there are still ways to buy and made a nice return. If you are still wanting to flip, use creative financing, off market purchase and pick the brain of someone more experienced.  

You didn't learn to read until someone taught you. Same with flipping.