Running Diary of a 2-Family Flip in Plainville, Connecticut

[Michael Noto]

@Bill Labrecqueand I are working on a 2-family flip in Plainville, CT.  The property closed in the beginning of February.  We have been meaning to post this for a while.

Here are some of the key numbers

• Purchase price: 95k
• rehab amount: 30k
• ARV: 190k
• Area: Solid B area (can something be a B+?)
• Rents: 1st Floor 2 bedroom ($975), 2nd floor 3 bedroom ($1100)
• taxes: $4600
• Land: 0.50 acres
• Gas Heat

Plan A: complete the rehab and refinance

Plan B: complete the rehab and sell the property

I will post the detailed scope of work later, but here are some before pictures