First Flip

[Scott Jones]

Hello again,

  been a while since I have posted.  Been trying to get into a flip house now for about 90 days.  Tough market to get into in Mobile due to the changing demographics and the many people trying to get the few houses that are worth getting.  I finally got a bid accepted.  Deal is all $35k cash (private lender that I will pay back with interest upon selling).  From the looks of the home most of the work is sweat equity (paint, floors, minor sheetrock work in one room).  Good location.  4/2 1376 sq ft.  Brick home on slab.  Gas stove, electric a/c. Biggest expense will be replacing the floors (cheap laminate in them now, will put some cheap engineered hardwood with a better look).  MIGHT need a new roof (est. $3k).  Expect it to realist at $67-72K.  Should be a 45 day flip.  Will keep you guys updated.  Feels good to be in the game finally!!

Scott