first flip

[Chris Moeser]

We just finished our first flip.  We had to do a lot of gutting to make the house desirable. First we made the only bathroom into a master bath. Then we added another bathroom. Opened up the floor plan by taking out several non load bearing walls. The best part of the project was building equity into the house. Looking for another project to flip or whole sale in the St. Louis metro area. 

[Chris Moeser]

One thing that hurt us is that we didn't get the property at a low enough price. After expenses our profit margin wasn't that great witch means we needed to list our home for the maximum price.  That limited the amount of views and is taking longer to sell. We also have to list with an agent because we haven't built up a buyers list. Controlling cost is also a challenge. Knowing what upgrades are going to give you a roi. I don't mind learning from the school of hard knocks as long as we don't loose money.