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Updated almost 7 years ago,

User Stats

98
Posts
29
Votes
Susan Clark
  • Investor
  • Palmyra, NY
29
Votes |
98
Posts

flopping on my flip want to go from 42K-130K

Susan Clark
  • Investor
  • Palmyra, NY
Posted

SO Im super embarrassed to even be here posting but I really need the help and advice. I bought a 3bdrm 1 bath raised ranch in july 2017 for 42k, I structured 25k for rehab and wanted to sell by september/octobet of 2017. ARV $125K-$130K

Now its march 2 2018 and Im afraid to even enter the house. the intent was to turn this house into a nice 4bdrm with dining room (from some 3 season room they had. My counter part who started out all fired up and seemed to be doing okay, over paid I think for certain jobs, like $45hr to reframe, he and his buddy painted (not complete) for $15hr, had the whole house sided instead of using what was there and the crew took us all summer. I paid a guy $1000 to remove trees and clean up the yard. replaced a sump pump (no receipt even after asking over and over.) Bought appliances for $1500 but the kitchen sits unfinished, the bathroom is gutted, a back room was cleaned up to make more living space but won't work well unless its insulated from the underside and its now yucky winter and Ill pay through the nose to have someone go under there. Ive said this house needs a second bath right from the start and have gotten nowhere(even the realtor said it needed one), the biggest problem I see in this scenario is that I really wanted and needed someone who has done many of these with the mindset of the investor/REIA to walk me through, not my dear hubby who although very talented in what he is capable of doing isn't very good at organization, timeliness, of follow through, therefore he has now quit on me and Im stuck trying to learn AND figure this out and not lose my shirt in the process.I had my realtor walk through the job with me and try and help refocus me but I really even need the financial piece played out at this point . Is there anyone who can help me save my first flip.

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