First Flip Experience

[Jen Matheny]

Hello BP members,  I have learned so much from reading here-Thanks to all who post & share!!!

I completed my first flip and sold in Dec last year, approx 30% profit, held for exactly 1 year due to 2 deals falling through days before closing. So frustrated realtors tied it up for more than 4 months! I ended up using Buyers Agent. There were many mistakes I made but learned what to and not to do next time. A couple pics here, sorry so big not going to bore you with all, 3/2 1500 SF. I enjoy taking pics before and after, staging and posting ads as well. In 2015 sold my condo 1st week on Zillow full asking price for $182K. Low inventory and rising prices is challenging this year.

 Best to all here, keep sharing as it inspires other while being a great learning resource.

Good day!

Jen

[Jen Matheny]

Thanks guys,

Purchased $61,500 total, sold $116K had 1 yr. holding. Most expensive mistake not having skilled help! Plumbers and electricians carpenter etc...Too many sob stories and paid some up front bad idea, bottom line shotty workers. I finally found the skilled guys 25% into it who were great. After 2 inspections, you can imagine several things came up requiring cost. I tried FSB for a month in April listed it to high and lost the first spring lookers although the best deal/property on the market at the time. Buyers agent brought me a buyer fell thru in July. Tried a  local realtor & old client of mine, that was a disaster, another 2 months off the market. As much as I tried to keep on the realtors, they reassured me the deal was going to close...So I missed the peak season, finally I did a couple open house myself in Oct with great success, and accepted offer from buyers agent.