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Updated over 6 years ago, 06/26/2018
Completed my first Flip in Canton ga.
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.
Did you use all your own money? Hard money loan?
Nice job!!
Nice! It looks really good. How did you know how much to sell it for?
Looks great and fantastic profit projection. Hope it sells soon. How did you finance the deal?
It is beautiful!
Great flip. Terrific design on the kitchen and bathrooms! I work with a cabinet company out in Marietta. Let me know if you ever need assistance with anything.
Thanks. @Daniel Andrews Market is stupid crazy like that up here in NJ. Did you count on any appreciation when you first calculated your ARV to occur during your rehab period to be able to put a higher sale price on the finished product?
Amazing turn around! Mind if I ask your day job? I know you said you spend several hours on it every day to make it happen, sounding like a full time job.
Very well done! Looks amazing and really like the style
Congrats on completing the renovations on your flip! That is definitely a great profit margin at that price point.
What will you change on your next flip to decrease the renovation timeframe?
Hey bud, looks great. IT says you're in Marietta, I'm in Kennesaw/Dallas...wouldn't mind making your acquaintance...My wife and I will be making our first purchase before the year is out.
@Account Closed I spent about 20-25 hours a week to start. Towards the end I spent 7 days a week about 4-5 hours a day. I am a full time dad of two kids so its a juggling act.
Looks great
You’re off to a great start
wow! Nice job! Good luck!
Very well done! Colors and fixtures are wonderful. My wife is a high-end residential interior designer (Projects $1million and up) and the esthetic you have in this house is comparable to her style of design. Good luck @Daniel Andrews!
I like the 'open floor-plan'... The color palette and how you didn't cheap out on the countertops and looks like way you used way better than builder grade finishes. The bathroom vanity is lovely and buyers need the storage. Wish you could have posted 'before' pictures. I love the porch. Keep us updated on what happens, when you WILL sell soon!
Hey @Daniel Andrews Did you negotiate your offer to a sale?
Originally posted by @Vicki Violet:
I like the 'open floor-plan'... The color palette and how you didn't cheap out on the countertops and looks like way you used way better than builder grade finishes. The bathroom vanity is lovely and buyers need the storage. Wish you could have posted 'before' pictures. I love the porch. Keep us updated on what happens, when you WILL sell soon!
He did post before pics a few pages back
Great job
@Christina Parodi Still negotiating offer.
@Egemen Toprak Thanks
Hi,
Why did you offer 125 when the asking price was 119? Was there a bidding war with other buyers? Is it really competitive where the house is?
Thanks,
Well done, beautiful property!