@Joshua Dorkin will work on getting pictures uploaded. Breaking down the $12,000.
Materials: $5,600
Contractor: $5,130
Quit Cost: $1,277
@Christine Glasner The doctor in my town was going through a divorce and had to sell his rent houses. This was one of them. He sold it for what he owed. Was a 2 bed 1 bath brick home. Didn't need a whole lot of work.
@Brandon Turner a few things are don't be afraid to pull the trigger when you find a house that meets your numbers. I knew after I did my numbers there was money to be made. Also hire a good contractor. I had three different guys bid on it and I thought all three where to high. I spoke with a guy I grew up going to church with about the bids (he was a former contractor) and he also thought they were to high. He said he would do it for me in the evenings and weekends with his dad and son to save me some money. He charged me by the hour. When it was all said and done they took about five weeks longer then the contractors had said they could do it in, but saved me $2,000 of the lowest bid I had gotten. I got lucky because I had known him my whole life and knew what time of person he was. Gave him my scope of work and checked in from time to time. Him and his son and dad did a great job.
I was actually using it as a rental property till my renter asked if he could buy it. My wife and I have a five month old so I figured I could use the money, and the experience of going through the whole process of selling it. I feel fortunate that I was able to get it at the price I did, and also having a trustworthy contractor. The neat thing at closing was the buyer was just as excited about buying the house as I was at selling it. Trust me, I enjoyed getting the check, but it was also a joy to see him buying his first house.
