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Updated over 6 years ago, 06/26/2018

User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts

Completed my first Flip in Canton ga.

Daniel Andrews
  • Investor
  • Marietta, GA
Posted

I just finished my first flip. The house was purchased off the MLS as a banked owned. Asking price was 119k and I offered 125k cash two weeks closing. They accepted the offer.

Repairs. I am purchased a house flipping spreadsheet to estimate my repair cost, holding expenses and selling fees.  I also used this spreadsheet to track my expenses. www.houseflippingspreadsheet.com

I estimated around 24k in repairs plus 20k in real estate selling cost. I replaced all the floors, new kitchen, baths, paint interior and exterior, new doors and trim.  I had a contractor paint the exterior. 125k + 24k + 20K = 169k invested. 

I am finished with the house and spent 26k in repair cost so I went 2k over budget.  The house is listed at 225k with multiply showing every day. 

I would like to here your feedback and let me know if you have any questions.

https://www.zillow.com/homedetails/115-Brookwood-D...

User Stats

2,482
Posts
4,215
Votes
Jill F.
  • Investor
  • Akron, OH
4,215
Votes |
2,482
Posts
Jill F.
  • Investor
  • Akron, OH
Replied

Soooo pretty! I bet that sells quickly.

User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts
Daniel Andrews
  • Investor
  • Marietta, GA
Replied

Thank you.

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User Stats

87
Posts
47
Votes
Jodi Gauthier
Agent
Pro Member
  • Real Estate Broker
  • Houston, TX
47
Votes |
87
Posts
Jodi Gauthier
Agent
Pro Member
  • Real Estate Broker
  • Houston, TX
Replied

Looks Great!

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ThisIsLivin Properties LLC
5.0 stars
37 Reviews

User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts
Daniel Andrews
  • Investor
  • Marietta, GA
Replied

Thank you. I have one showing today and four yesterday.

User Stats

3,034
Posts
2,019
Votes
Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
2,019
Votes |
3,034
Posts
Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

Congrats the numbers are solid get that thing sold and repeat the process!

User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts
Daniel Andrews
  • Investor
  • Marietta, GA
Replied

Thanks Brian. Hoping to make around 50k on it! And yes ready to repeat the process but thinking about 2-3 months next time.  This one took around 5 months. 

User Stats

734
Posts
749
Votes
David Robertson
Professional Services
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
749
Votes |
734
Posts
David Robertson
Professional Services
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
Replied

Wow, congrats Daniel!  The rehab looks great and the numbers look even better!  $50k+ profit on $225k resale is a home run by anyone's standards!  I hope you get it sold soon!

  • David Robertson
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User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts
Daniel Andrews
  • Investor
  • Marietta, GA
Replied

Thanks David!

User Stats

96
Posts
81
Votes
Daniel Andrews
  • Investor
  • Marietta, GA
81
Votes |
96
Posts
Daniel Andrews
  • Investor
  • Marietta, GA
Replied
@David Robertson The spread sheet is amazing. I have told so many investors about it. Thanks again

User Stats

2,434
Posts
1,873
Votes
Michael Plante
  • Deland, FL
1,873
Votes |
2,434
Posts
Michael Plante
  • Deland, FL
Replied

Looks GREAT!

Congrats 

User Stats

340
Posts
118
Votes
Walter Key
  • Realtor
  • Keystone Heights, FL
118
Votes |
340
Posts
Walter Key
  • Realtor
  • Keystone Heights, FL
Replied

@Daniel Andrews

Looks great man! Very nicely done. In regards to your next flip, I bet you will have no issues cutting the flip time in half now that you've worked out the kinks in your planning, timing, budgeting, etc. Fine tuning your processes will certainly save you time and therefore, money. Can't wait to hear how quickly this sells! 

-Walt

User Stats

12
Posts
2
Votes
Tara Williams
  • Atlanta, GA
2
Votes |
12
Posts
Tara Williams
  • Atlanta, GA
Replied

Hi Daniel, your flip looks great! I'm looking to do a flip in Atlanta and my issue with my first house that I purchased was dealing with bad contractors. I never completed that flip because a huge tree fell on the house and I sold it as is… my question is did you do the work on your house yourself and do you know of any reliable contractors you can refer me to?

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Account Closed
  • Real Estate Agent
  • Marietta, GA
8
Votes |
27
Posts
Account Closed
  • Real Estate Agent
  • Marietta, GA
Replied

It looks beautiful Daniel. Great job!!! Best of luck!

User Stats

268
Posts
54
Votes
Juan Jackson
  • Developer
  • Georgia
54
Votes |
268
Posts
Juan Jackson
  • Developer
  • Georgia
Replied

Nice find on the MLS. Looks like you did you a great job! Now only if you had your real estate license or a investor friendly broker who didn't want to take all your hard earned profit! Good luck!

User Stats

295
Posts
117
Votes
Ethan Henning
  • Real Estate Agent
  • Atlanta, GA
117
Votes |
295
Posts
Ethan Henning
  • Real Estate Agent
  • Atlanta, GA
Replied

CONGRATS @Daniel Andrews , this looks great!!!

User Stats

23
Posts
26
Votes
Bo Wagner
  • Attorney
  • Brookhaven, GA
26
Votes |
23
Posts
Bo Wagner
  • Attorney
  • Brookhaven, GA
Replied

Looks great!   Now if you need help from a great ATL area closing attorney, give me a shout!    

User Stats

3
Posts
0
Votes
Replied

looks awesome dude! care to elabarote a bit on how you financed the purchase and rennovations?

User Stats

171
Posts
98
Votes
Xavier Randall
  • Insurance Agent
  • Lakewood, CA
98
Votes |
171
Posts
Xavier Randall
  • Insurance Agent
  • Lakewood, CA
Replied

@Daniel Andrews  Great job! What's the address? I have a friend that is now renting in Canton.

User Stats

6
Posts
0
Votes
Christine P.
  • Fayetteville , NC
0
Votes |
6
Posts
Christine P.
  • Fayetteville , NC
Replied

This looks really great!  I am closing on one now, June 29th to be exact.  This is will be my first one as well, so I will be watching with eager anticipation.  Keep me informed!

User Stats

206
Posts
138
Votes
Angela Yan
  • Rental Property Investor
  • San Francisco, CA
138
Votes |
206
Posts
Angela Yan
  • Rental Property Investor
  • San Francisco, CA
Replied

@Daniel Andrews hey! Congrats!

I am doing my first flip in Decatur. How do you feel about staging your property? At SF, we stage but homes are in Millions. I don’t necessary see a lot of that in Georgia. My agent believes in Virtual staging with no open house and allow serious buyers to visit as they please. I see you are doing lots of open house. Let me know what you think and can’t wait to hear about your offer and thanks for sharing. 🤗

User Stats

5
Posts
0
Votes
Keisha Marie Alexander
  • Ridgeland, MS
0
Votes |
5
Posts
Keisha Marie Alexander
  • Ridgeland, MS
Replied

beautiful flip !!! May you get above asking !! I can't wait to get started.

User Stats

1
Posts
0
Votes
Tom Mallan
  • Real Estate Investor
  • Brooklyn, NY
0
Votes |
1
Posts
Tom Mallan
  • Real Estate Investor
  • Brooklyn, NY
Replied

Nice job and EXCELLENT taste. Proud of you.

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Account Closed
  • Canton, OH
63
Votes |
118
Posts
Account Closed
  • Canton, OH
Replied

Will you come redo my house?  Lol.  Looks great, love porch and kitchen! May you reap the rewards!!

User Stats

1
Posts
0
Votes
Replied

Thank you for sharing the spreadsheet! The house looks great!

User Stats

1
Posts
0
Votes
Steven Brandt
Pro Member
  • Investor
  • Carlsbad, CA
0
Votes |
1
Posts
Steven Brandt
Pro Member
  • Investor
  • Carlsbad, CA
Replied

Daniel, nice job! It looks fabulous! Thanks for sharing the numbers and all the great pictures.  What was the most important thing you learned during the process? Anything you will do differently on your next one?

  • Steven Brandt