Over 100k in Profits! live-in flip and partnered up for a flip!

[Robert Dupre]

Hey Everyone at BP!

I am new to BP and I'm excited to let everyone know of my recent success!

I purchased my first home which was 3 bed/1 bath townhome, it was in very bad shape and needed a full cosmetic overhaul(pictured above in the second set of before and afters). It was perfect at the time, great deal, 2 blocks from work and had room for renters(house hacking!!! that added an additional $10k to my profits!). I had plenty of work ahead of me though as I went way over budget and my parents convinced me to do a lot more work than I was planning on! My plan: new bathroom, new flooring, new counters and appliances, new lighting, paint and off to the races. Parents plan: My plans plus complete kitchen gut, new trim, new doors, remove fireplace to accommodate a new half bath and walk-in pantry(that one isnt as straight forward as it sounds because a beam had to be added to support the load and the entire house had to be re plumbed to add the bathroom!). Long story short, My Dad and I worked on the project in the evenings and weekends to add sweat equity, I lived there for 3 years and rented a room out for 2 of those years and sold it for a net 70k profit! and I didn't even have to pay taxes on that because it was my primary residence for over 2 years!

I am currently in my second fix and flip and house hacking while I'm doing it! Hopefully I'll do as good as I did on the first!

The first set of before and afters of my most current flip a 3 bed/1 bath 1.5 story. This is the first straight flip I've done and I partnered up to make it happen. It was a ton of work and I wish we would have taken more before pictures! This one also ended being a lot more work than we had originally planned but it was still worth it! The work included replumbing the entire home, new furnace and A/C, new water heater, Lower level gut and refinish, new patio, new garage door and garage repairs, new roof, kitchen gut, bathroom gut, hardwood refinish, new flooring, new doors, new trim, a lot of drywall work and paint. My partner and I added some sweat equity and after 3 months of work we made a profit of $32k!

We currently have two more properties and contract and plan on doing plenty more. I'll be posting progress in my blog! Hope everyone finds this inspiring!