Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
I will use this forum post to document my journey to my first six figure flip....Hopefully. I will post before, afters, info on how I acquired, why acquired, and the process in general. At this stage in time the home just went on the market.
I purchased this home for $365,000 and it is currently listed for $649,000.
Please feel free to ask any questions. Let's start with some befores-
@Brit Foshee this was an amazing flip! You guys did a great job with a fantastic turn around. How much did you end up selling it for? Did you use your own funds for the 75k rehab? Seems like you just used HM for the purch and put 155k of your own money up maybe? Sorry for the questions and my confusion.
@Brit Foshee this was an amazing flip! You guys did a great job with a fantastic turn around. How much did you end up selling it for? Did you use your own funds for the 75k rehab? Seems like you just used HM for the purch and put 155k of your own money up maybe? Sorry for the questions and my confusion.
We've lowered price to $619,000.
We need to sell for $600,000 to clear 100K.
I used my own funds for rehab as well as downpayment. I have about 150K invested.
@Brit Foshee amazing amazing work. The efficiency from start to close was amazing. One question that I have, how long did it take for you to get this efficient with your project? 1 month of reno is absolutely amazing, how hard was it to line up sub contractors and how did you line them up so quickly. Also, was there a quite a lot of demo involved, if so, how did you work around ordering your materials (say cabinets and such) without the demo work completed. I am on my second flip and my last flip too 3 months to complete once project started plus a month or so lining up a good contractor. I sub contracted the roof and vinyl siding. I liked your idea of prepping and purchasing materials while you are waiting in the closing phase but what if you are unable to close for one reason or another?