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All Forum Posts by: Dan Beaulieu

Dan Beaulieu has started 42 posts and replied 401 times.

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667

@Jay C. I never said I was an expert. I did my first deal, got lucky, and wrote about it here. You are hoping I'll lose my shirt? Thanks for that. I, On the other hand, want to wish you continued success. Out of 177 replies, your comment is the only negative one. Congratulations. Haters gonna hate on all forums I suppose. Just thought BP was different.

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667

@Brian Stewart@Christie Gahan  Cleaned with mineral spirits, then painted with masonry paint. Ralph Lauren Noble Grey. = great color. I considered every color there is. I even painted it white first, only to bail on that silly idea. The stairs are just the bamboo flooring continued. 

@Roman Ven 4% for the 3 months yes... Annualized, they are killing it. 

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667
Originally posted by @Michelle Rukny:

I love what you did to it. Did you partner with a designer? @Dan Beaulieu

 Design was all me. Thank you so much! 

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667

 @Marian Smith thank you! Finding all the subs was no problem as it was The winter. Once we got closer to completion and around tax return time, they started to get tons and tons of calls from people wanting to use their tax returns to remodel their kitchens! I got lucky on the cabinets and found a local guy willing to do them for 6k including the island. Worth it! The next highest offer on the house was 361k. I did an escalation clause which said I'd pay 2k over the next highest offer, up to 370k. Most of the other offers were over asking price. Escalation clauses are an awesome tool in a ridiculously hot market- The numbers still worked for me at 370k. I wasn't aiming for a home run on this one, just really wanted to get my feet wet and just go do it!  

Post: Is it weird to buy rental properties instead of primary residence

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667
Chingju Hu 98% of the population will never have a net worth of over a million dollars. But with your mindset, you will. None of my friends understand me either. I guess it's time for new friends!

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667

@Kerry Boyle 

76000 - 35000 = 41000...

So yes I had 41000 to pay the realtor 5% commission and 15k hard money costs

Post: Just sold my first flip and my rant about lessons learned

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667
Nice job! Thanks so much for the lessons learned. Do you have before and after pics!? Those are the best.

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667
Originally posted by @Scott Raley:

Good job Daniel making a decent profit for your first endeavor.  I'm sure you learned some valuable lessons, so make sure you reflect on what those lessons were and apply them to your next project. Concerning contractors, always start with referrals from trusted friends, especially those friends in the construction business. It's never going to be perfect but good subs will get the job done and if you treat them fairly they will work with you. I try and pay and procure   when possible  all materials and have them bid just the labor. That way they cannot justify asking for 50% up front. Plus  I know the quality of the parts and materials being installed. If a sub starts off bad they will end up bad. Do not put up with it and be quick to fire even if you may loose a few $$$. If you borrowing hard money, the costs are steep and your primary goal is to get your project completed and sold quickly. If you want to save some money on real estate fees, get your RE license. I saved $45,700 in commissions on the purchase and sale of my last flip. That made the deal go from good to great. Lastly, find a good realtor ( until you get your license :) ) who can find you some off market opportunities so your not bidding against retail buyers. 

 All great points! Thank you so much for taking the time to write this. I will definitely work on my license next.

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667

@Ronda R. thank you so much and thanks for the recommendation! 

Post: 35K Profit on my first flip! Before and After pics!

Dan Beaulieu
Posted
  • Lender
  • Knoxville, Tennessee (TN)
  • Posts 422
  • Votes 667
Originally posted by @Giovanni Oliva:

Love the finishes by the way! Looks like you delivered a Top quality product to the market!

 Thank you! it's really satisfying to use quality finishing materials even if you spend a little bit more. To have people fighting over something that you've created is an amazing feeling! I'll probably do all my flips like this moving forward. The satisfaction alone is worth a couple thousand bucks!