First Fix and Flip - Atlanta, GA

[Nick Kourey]

Investment Info:

Single-family residence fix & flip investment in Powder Springs.

Purchase price: $93,000
Cash invested: $75,000
Sale price: $189,000

This was our first flip, a 3/1.5 brick ranch purchased from wholesaler in rough shape. Pros: layout, lot size, location, structural integrity. Cons: overall state of interior.

After installing new electrical (full re-wire), new HVAC, new roof, completely gutted interior. Installed new hardwoods in kitchen/dining to match rest. Brand new kitchen and baths, new paint throughout. I did most of the work myself and ended up making about $10k profit, but learned a lot that I'll use going forward.