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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

    38
    Posts
    18
    Votes
    Tiffany Chandler
    Pro Member
    • Southbay, CA
    18
    Votes |
    38
    Posts
    Tiffany Chandler
    Pro Member
    • Southbay, CA
    Replied

    Congratulations!

  • Tiffany Chandler
  • User Stats

    5
    Posts
    2
    Votes
    Joshua Levine
    • Investor
    • Philadelphia
    2
    Votes |
    5
    Posts
    Joshua Levine
    • Investor
    • Philadelphia
    Replied

    @Ken Nyczaj Congrats on your first flip!  Can you please elaborate a bit more on the structure of the partnership and who put up the capital?  For example, I'm curious how you structured both the contractor and lawyers stakes since they were providing legal and construction services.   

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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

    @Justin Windham @Grant H. @Tyler Abraham Thank you

  • Ken Nyczaj
  • User Stats

    93
    Posts
    28
    Votes
    Selina Banda
    • La Vergne, TN
    28
    Votes |
    93
    Posts
    Selina Banda
    • La Vergne, TN
    Replied
    @Ken Nyczaj Congratulations, well done

    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

    @Canel Cole we bought the floors at wood floors plus and they came finished. Great pricing, I definitely recommend.

    @Paul Robinson Thank you, definitely have my eyes on commercial property in the future.

  • Ken Nyczaj
  • User Stats

    17
    Posts
    1
    Votes
    Shachar Hess
    • Tel Aviv, Israel
    1
    Votes |
    17
    Posts
    Shachar Hess
    • Tel Aviv, Israel
    Replied

    @Tzook Bar Noy

    User Stats

    26
    Posts
    5
    Votes
    Brock W.
    • Wilmington, NC
    5
    Votes |
    26
    Posts
    Brock W.
    • Wilmington, NC
    Replied

    The after pictures were phenomenal!  Great looking house!

    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

    @Sam Cherry @Rob Stein thank you for the comments

  • Ken Nyczaj
  • User Stats

    252
    Posts
    263
    Votes
    Dan Bryskin
    • Investor
    • Minneapolis, MN
    263
    Votes |
    252
    Posts
    Dan Bryskin
    • Investor
    • Minneapolis, MN
    Replied

    @Ken Nyczaj, congratulations on your flip. Well done. Couple of questions: how big was that kitchen, and how big was the island? Thank you, Dan Bryskin

    User Stats

    261
    Posts
    78
    Votes
    Frank Eimiller
    • Rental Property Investor
    • Fond Du Lac, WI
    78
    Votes |
    261
    Posts
    Frank Eimiller
    • Rental Property Investor
    • Fond Du Lac, WI
    Replied

    Whoa, this came out awesome

    big congratulations, very nice work, especially for it being your first one! 

    User Stats

    5
    Posts
    1
    Votes
    Ben Mananggit
    • Flipper/Rehabber
    • Arnold, MD
    1
    Votes |
    5
    Posts
    Ben Mananggit
    • Flipper/Rehabber
    • Arnold, MD
    Replied
    @Ken Nyczaj Congratulations!

    User Stats

    7,620
    Posts
    4,154
    Votes
    Karen Margrave
    Professional Services
    Pro Member
    • Realtor, General Contractor, and Developer
    • Redding, CA & Bend OR
    4,154
    Votes |
    7,620
    Posts
    Karen Margrave
    Professional Services
    Pro Member
    • Realtor, General Contractor, and Developer
    • Redding, CA & Bend OR
    ModeratorReplied

    Great job! 

    • Karen Margrave
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    User Stats

    57
    Posts
    17
    Votes
    Marcus Tukes
    • Investor
    • Atlanta, GA
    17
    Votes |
    57
    Posts
    Marcus Tukes
    • Investor
    • Atlanta, GA
    Replied

    Congratulations  

    User Stats

    100
    Posts
    65
    Votes
    Matt Bertsch
    • Investor
    • Allentown, PA
    65
    Votes |
    100
    Posts
    Matt Bertsch
    • Investor
    • Allentown, PA
    Replied
    @Ken Nyczaj Looks great! Congratulations and thanks for sharing

    User Stats

    18
    Posts
    6
    Votes
    Dewayne Reid
    • Real Estate Agent
    • Chicago, IL
    6
    Votes |
    18
    Posts
    Dewayne Reid
    • Real Estate Agent
    • Chicago, IL
    Replied

    Congrats! The house came out amazing! 

    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

    @Kate J. the cabinets are all original (same doors) from 93’, they were painted by our painting contractor who painted the whole house. New hardware put on, new sink, new granite countertop. Custom Island was built, crown molding, wine rack, and trim was built around the fridge. Recessed lighting was installed throughout the kitchen as well.

  • Ken Nyczaj
  • User Stats

    59
    Posts
    48
    Votes
    Christian Manhard
    • Contractor
    • North Conway, NH
    48
    Votes |
    59
    Posts
    Christian Manhard
    • Contractor
    • North Conway, NH
    Replied
    @Ken Nyczaj incredible job! The rehab look amazing 🙌🙌🙌

    User Stats

    6
    Posts
    1
    Votes
    LaQundia Green
    • Lender
    • Dallas
    1
    Votes |
    6
    Posts
    LaQundia Green
    • Lender
    • Dallas
    Replied
    @Ken Nyczaj Good Job Ken ...those before and after pics are awesome!

    User Stats

    511
    Posts
    92
    Votes
    Brian K.
    • Rental Property Investor
    • Buffalo, MN
    92
    Votes |
    511
    Posts
    Brian K.
    • Rental Property Investor
    • Buffalo, MN
    Replied
    @Ken Nyczaj congratulations job well done. Thanks for sharing your story. Hope you have continued success in the future.
    Account Closed
    1
    Votes |
    8
    Posts
    Account Closed
    Replied

    Congratulations. I'm new to real estate investing and haven't seen a rehab cost that high on a SFR, what would you say contributed the most to the rehab cost of $70,000?

    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

    @Barton Louie @Jonathan Soto thank you. Going to try my best to have another under contract this week.

  • 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

    @Anthony Martukovich @Kevin Barnard thanks!

  • Ken Nyczaj
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    User Stats

    7
    Posts
    2
    Votes
    Rylie Hendren
    • East Lansing, MI
    2
    Votes |
    7
    Posts
    Rylie Hendren
    • East Lansing, MI
    Replied

    How exciting! Let the snowball begin...

    User Stats

    18
    Posts
    8
    Votes
    Javier G.
    • Rental Property Investor
    • Miramar, FL
    8
    Votes |
    18
    Posts
    Javier G.
    • Rental Property Investor
    • Miramar, FL
    Replied

    @Ken Nyczaj amazing job.Congrats!

    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

    @Addison Guyse @Chamika Hull @Elizabeth Roncevic thank you!

  • Ken Nyczaj