Our first Flip

[Tim Harris]

We bought a 10 year old block home in Cocoa at the end of January this year. It was bank owned (REO) and the former owners pretty well trashed the house before they moved out.

We put our initial offer in on the house and another offer was accepted.  We put in an offer on a nearby older home with a pool, and that was not accepted, but the first home came back on the market.  We originally offered $3k over the asking price, but dropped it to $2k over with a bigger earnest money deposit and our offer was accepted.  

We rehabbed the home by painting interior and exterior, had three rooms of tile installed, repaired a rotted section of roof, replaced all of the receptacles and most of the lighting and ceiling fans, installed two year old black appliances, installed mirrored sliding doors in the bedrooms and put the house on Zillow and Craigslist and we were getting a lot of interest, and after three weeks on the market, we got an offer that we accepted.  5 days later they backed out of the deal as the buyer of their home was not truthful on their application and they had to re-list.  

We listed with a solid Real Estate agent who showed many sales on Zillow and we had an offer on the house the day after it was listed.  Money well spent. 

Good luck and happy hunting to all!

[Eric Jackson]

Tim Harris Congratulations Tim!

I'd love to see the numbers on your success. Any before and after pics? Did you complete most of the work personally or contract?

On the search for your next flip?

Keep at it!