First Flip Done

[Scott C.]

OK, our first flip closed on Friday. This has been a great experience and I can't wait for the next one. Thank you Biggerpockets for all of the information freely shared.

Here's the deal:

Purchased for $32000.00

Rehab Cost    $62500.00 

Closing Cost  $6500.00

Sold   $152,000

It did take longer to sell then we anticipated but overall I feel this was a good deal.

We analyzed about 70 properties before we purchased this property. We also did a a lot of research on this neighborhood to find out everything we could before this we new knew about this property. I feel that preparation was key to this deal. 

A few pictures of before and after

[Scott C.]

Originally posted by @Richard G.:

Congrats @Scott C. 

This is a wonderful story to hear.  I would love to hear a little more details, as far as lessons learned, what would you do differently and maybe some do's and don't!

From a person who has the capital AND has the private money lenders looking forward to first fix and flip too. Thanks -

Lessons learned: Real Estate Agents really don"t understand investors. 

Having a good team in place will save a lot of time and aggravations. I am fortunate enough to have 30 years on remodeling experience and solid group of subcontractors that came along.