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Updated about 5 years ago, 10/09/2019

User Stats

453
Posts
415
Votes
Ken Nyczaj
Pro Member
  • Investor
  • Grasonville, MD
415
Votes |
453
Posts

First Flip Completed Successfully! W/ Pics and Numbers

Ken Nyczaj
Pro Member
  • Investor
  • Grasonville, MD
Posted

My team and I sold our first flip today!

Started diving head first into real estate in the beginning of 2018 and haven't slowed down since. We found this deal from a DM Campaign. After a few campaigns with no results, one in May finally stuck. Biggerpockets has been an incredible source of information and this wouldn't have happened without the community.

Front view: (Packed the Prius full)

Rear: (Bay Grasses turned out great)

Kitchen:

Master Bath:

Roof:

Here's about 3300 letters that I proudly lick!

Numbers:

Purchase- $108,000

Rehab- $70,000

Holding- $3,200

Sold Price- $288,000

Profit about 27% off of sold price.

Thank you to all who helped me throughout the Journey, greatly appreciated. Now we are looking to put our 2nd and 3rd property under contract this month. Possibly even a fourth if I have any funds left! If you're in the Annapolis area, reach out anytime- I'm definitely looking to get some sort of master mind group together to bounce ideas off of!

  • Ken Nyczaj
  • User Stats

    3
    Posts
    1
    Votes
    Keith Singh
    • New York
    1
    Votes |
    3
    Posts
    Keith Singh
    • New York
    Replied
    @Ken Nyczaj the kitchen looks AMAZING. CONTRATS!

    User Stats

    2
    Posts
    1
    Votes
    Latoya Lee
    • Baton Rouge, LA
    1
    Votes |
    2
    Posts
    Latoya Lee
    • Baton Rouge, LA
    Replied

    @Ken Nyczaj, congrats. The kitchen and bathroom look amazing. Great job!!!

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    User Stats

    132
    Posts
    25
    Votes
    Rik Patel
    • Real Estate Agent
    • Miami, FL
    25
    Votes |
    132
    Posts
    Rik Patel
    • Real Estate Agent
    • Miami, FL
    Replied

    Congrats Ken! Just curious, how did you calculate the holding cost?

    User Stats

    27
    Posts
    21
    Votes
    James Mercure
    • Realtor
    • New York, NY
    21
    Votes |
    27
    Posts
    James Mercure
    • Realtor
    • New York, NY
    Replied
    @Ken Nyczaj Congrats Ken. Way to go!

    User Stats

    44
    Posts
    5
    Votes
    Quintin Gulley Jr
    • Stockton, CA
    5
    Votes |
    44
    Posts
    Quintin Gulley Jr
    • Stockton, CA
    Replied
    @Ken Nyczaj Bro great first flip super motivation that kitchen and bath whooo good stuff congratulations

    User Stats

    18
    Posts
    4
    Votes
    Marta Kebede
    • Real Estate Agent
    • New York, NY
    4
    Votes |
    18
    Posts
    Marta Kebede
    • Real Estate Agent
    • New York, NY
    Replied
    @Ken Nyczaj Congrats and good luck for the rest of your projects

    User Stats

    3
    Posts
    1
    Votes
    Remy Marin
    • Real Estate Agent
    • Atlanta, GA
    1
    Votes |
    3
    Posts
    Remy Marin
    • Real Estate Agent
    • Atlanta, GA
    Replied
    @Ken Nyczaj Now that’s one heck of a margin! Congrats Ken, all the way from Miami! Glad to see that I’m not the only Prius owner involved with real estate investing haha.

    User Stats

    116
    Posts
    73
    Votes
    Preston Quinn
    • Rental Property Investor
    • Lynchburg, VA
    73
    Votes |
    116
    Posts
    Preston Quinn
    • Rental Property Investor
    • Lynchburg, VA
    Replied
    Awesome job man. Looks great.

    User Stats

    7
    Posts
    1
    Votes
    Ted Mac
    • Fresno, CA
    1
    Votes |
    7
    Posts
    Ted Mac
    • Fresno, CA
    Replied

    Congratulations, I really liked the kitchen and bathroom,,excellent use of space.

    User Stats

    6
    Posts
    3
    Votes
    Kelly Chisholm
    • Oak Ridge, NC
    3
    Votes |
    6
    Posts
    Kelly Chisholm
    • Oak Ridge, NC
    Replied
    @Ken Nyczaj nice work, looks amazing!

    User Stats

    7
    Posts
    1
    Votes
    Canel Cole
    • Rental Property Investor
    • Houston, TX
    1
    Votes |
    7
    Posts
    Canel Cole
    • Rental Property Investor
    • Houston, TX
    Replied
    @Ken Nyczaj congrats! The style that you have in the kitchen and bathroom is what I am aiming for. What flooring did you choose for the kitchen? Also, why did you go with that choice? Congrats again man!

    User Stats

    4,180
    Posts
    1,417
    Votes
    Justin Windham
    Pro Member
    • Solo 401k provider
    • Denver & Hilton Head
    1,417
    Votes |
    4,180
    Posts
    Justin Windham
    Pro Member
    • Solo 401k provider
    • Denver & Hilton Head
    Replied

    @Ken Nyczaj

    Nice work. Congrats!

  • Justin Windham
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    User Stats

    453
    Posts
    415
    Votes
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    415
    Votes |
    453
    Posts
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    Replied

    @Blair Poelman thanks Blair.. That’s what we aimed to do in the flip, add features that didn’t cost much but brought value up significantly by adding in upgraded finishes. The girl who bought the house was just looking for a home she didn’t need to touch for 30 years, and was sold on the upgraded features. Similar homes in the area were for $260k -$280k but didn’t 

  • Ken Nyczaj
  • User Stats

    20
    Posts
    17
    Votes
    Grant H.
    • St. Louis, MO
    17
    Votes |
    20
    Posts
    Grant H.
    • St. Louis, MO
    Replied
    @Ken Nyczaj That Kitchen before and after is awesome, great work!

    User Stats

    453
    Posts
    415
    Votes
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    415
    Votes |
    453
    Posts
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    Replied

    @James Caruso thanks, working on putting a few properties under contract within the month. I’ll be sure to take pics along the way.

  • Ken Nyczaj
  • User Stats

    4
    Posts
    1
    Votes
    Tyler Abraham
    • Investor
    • San Francisco Bay Area, CA
    1
    Votes |
    4
    Posts
    Tyler Abraham
    • Investor
    • San Francisco Bay Area, CA
    Replied
    @Ken Nyczaj Congrats!

    User Stats

    4
    Posts
    3
    Votes
    Replied

    Good job on the flip.  I have seen many opportunistic/value add properties in Naptown.  I am over in Howard County.  We will have to grab lunch one day on Main Street, or perhaps go sailing out of Eastport.   Let me know if you are looking to tackle some commercial properties out there.  

    Talk soon.

    Paul

    User Stats

    58
    Posts
    91
    Votes
    Replied

    Finally something on BP with pictures and numbers that are a real world home run.   Thanks for sharing.

    Sam

    User Stats

    68
    Posts
    16
    Votes
    Rob Stein
    • Realtor
    • Austin, TX
    16
    Votes |
    68
    Posts
    Rob Stein
    • Realtor
    • Austin, TX
    Replied

    Absolutely awesome! Congrats!

    User Stats

    294
    Posts
    104
    Votes
    Kate J.
    • Rental Property Investor
    • Austin, TX
    104
    Votes |
    294
    Posts
    Kate J.
    • Rental Property Investor
    • Austin, TX
    Replied

    wow, great job! Could you describe what did you do with the kitchen? Did you replce doors?

    User Stats

    12
    Posts
    2
    Votes
    Replied
    @Ken Nyczaj great Job! Kitchen and bathroom looks amazing. Love to hear the detail of your next deals!

    User Stats

    569
    Posts
    237
    Votes
    Jonathan Soto
    • Rental Property Investor
    • Newark, NJ
    237
    Votes |
    569
    Posts
    Jonathan Soto
    • Rental Property Investor
    • Newark, NJ
    Replied

    awesome job. Glad you kept at it and now are on a roll. I well like to move over to flip a home on my next property. Keep pushing and providing us updates

    User Stats

    453
    Posts
    415
    Votes
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    415
    Votes |
    453
    Posts
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    Replied

    @adam   We are up to 3300 every 8 weeks. To make it simple- for every 1,000 letters we send maybe 5 phone calls, which leads to 1-2 house visits leading to sometimes 0 or this 1 deal. You can imagine our conversion rate is very low. Our call back rate is also low. But after doing this for 9 months now, leads from months back are starting to look promising. Plus referrals from people I’ve met just talking about real estate is happening. So important to tell everyone and anyone about what you do as a real estate investor.

  • Ken Nyczaj
  • User Stats

    453
    Posts
    415
    Votes
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    415
    Votes |
    453
    Posts
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    Replied

    @Adam M. We are up to 3300 every 8 weeks. To make it simple- for every 1,000 letters we send maybe 5 phone calls, which leads to 1-2 house visits leading to sometimes 0 or this 1 deal. You can imagine our conversion rate is very low. Our call back rate is also low. But after doing this for 9 months now, leads from months back are starting to look promising. Plus referrals from people I’ve met just talking about real estate is happening. So important to tell everyone and anyone about what you do as a real estate investor

  • Ken Nyczaj
  • User Stats

    453
    Posts
    415
    Votes
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    415
    Votes |
    453
    Posts
    Ken Nyczaj
    Pro Member
    • Investor
    • Grasonville, MD
    Replied

    @Tara G. we kept the doors and just painted everything on the cabinets besides the inside. The vanity was purchased from Home Depot. Thank you for the response.

  • Ken Nyczaj