6th flip in Los Angeles

[Adriel Liwag]

Hey BP, I just wanted to share my most recent flip. This was in Los Angeles. This is my 6th flip and I haven't had a chance to share every single one but I'm pretty proud of my accomplishments in the last 2 years since I started flipping. I got a lot of negative feedback at first from people telling me it's a bad idea, it's too risky, local seasoned agents telling me I'm too late to the game and you can't do any investing in Los Angeles with $0 money. Well, 2 years later here I am. I started with $0 out of pocket, I've completed my 6th flip, I just purchased my 7th one last week and have 3 other ones in my pipeline, I left my job a year ago to go into this full time, and each deal after the first just kept getting better because I kept learning how to make it better. I'm sharing this not to brag, but to show those of you particularly in Los Angeles, that it can be done if you have enough desire. This is not at all to say it was easy because there is nothing easy about this business. With that said here are the details and links to the pics.

Property: 2/1 800 sq ft./5,000 lot

Purchase price: $413k

Rehab: $55k 

Rehab time: 6 weeks

Initial ARV: $580k

Listed: $599k

Appraised: $635k

Sold: $653k

Pics:

Before - https://app.box.com/s/mhqk541iubkj84ibf4pa9x63cdex...

After - https://app.box.com/s/21n6e5igy958bl6wdzagvmciecyr59z7

[Adriel Liwag]

@Jon Crosby thanks for the support! My initial ARVs were conservative numbers based on solid sold comps. I don't want to over price my ARV and set high hopes and it also keeps my over all numbers conservative and easier or more realistic to sell to my passive investors. My favorite part in the process is being able to deseign and renovate a home to the highest quality possible at the least dollar amount possible.