My First House Flip

[Darren Jones]

My first house flip was an amazing experience, and I am fortunate to many people for making it happen. I was able to acquire a 80 year old, 780 sq ft SFH in North St Louis County Missouri, in January of 2016. I had experience working on my own home, and 12 years in Home Improvement retail, so I had good materials knowledge and good mechanical knowledge from years of home repair and renovations. I had excellent guidance from a family member who has 20 years of Real Estate Investing, and he mentored me through the process, start to finish. I was extremely lucky I had him to guide me, coach me, encourage me and most importantly, instruct me on how to work a deal. Had it not been for his insight and passion for the business, I would not be here now. Working a full time job, and doing a full rehab simultaneously was demanding and I took only 3 days off between Jan and June...it was what was needed to be done. The municipality the house is located in is small, and getting to know the City staff, the Mayor (who lived two houses down) and the City Building Inspector was a treat, as all of them were eager to help, teach and support me (I know, rare and out of the ordinary). I passed inspection and found a renter the same week, and sold the property within 60 days, getting a check for $13,300, netting a $7,000 profit for about 220 total hours of work, but priceless experience and knowledge was my biggest asset throughout the endeavor. It was hard work, long hours and with the exception of a few professional installs (HVAC, water pressure regulator) and help from friends and family doing some heavy lifting and painting...it was mostly me, which made me proud. If this is your goal, know this before you begin...YOU MUST BELIEVE it is possible and your attitude and YOU determine your outcome, not much else. If you arm yourself with this knowledge, it just may help you like it did me. Good luck!