All Forum Posts by: Jamie McCauley

Just put our flip under contract for $2k over asking 🤯 It seems that COVID has only increased demand in our area(West Michigan)! Anyone else have a similar experience? What do you think will happen as this whole scenario progresses?

Here's a before/after video we made of the flip: https://bit.ly/3fXuFdC

3 Votes

Hey Flippers!

With each flip we do we seem to learn new tricks to save money(and increase profits). I’m just wondering if anyone would be interested in “trading secrets” 😂 here are a couple of mine:

1. Check Best Buy for “open box” appliances. Just because it has been returned doesn’t mean it’s damaged! On our last flip we got a stainless French door fridge for $375, saving us around $1000!

2. Habitat for Humanity ReStore/big box returns for replacement doors. We can usually find interior doors for $15-20 and exterior doors for $35-50. In our last flip this added up to over $500 in savings(a lot of kicked in and doggie doors 😂).

Now let’s hear some of yours!

1 Vote

Originally posted by @Angel Guerrero:

@Jamie McCauley that’s awesome congratulations

Thanks Angel!

0 Votes

Originally posted by @Sara S Jung:

@Jamie McCauley congratulations for taking action!

Thanks Sara~

0 Votes

Originally posted by @Shawn Kross:

@Jamie McCauley awesome! Congrats!! My father,brother and I just closed on our first flip today. We made $88,000 then split it 3ways. Looking for the next one.

Wow congrats! Thats a nice spread!

0 Votes

Originally posted by @Joshua B.:

Originally posted by @Jamie McCauley:

Originally posted by @Will Barnard:

Congrats on your success, not bad at all. As a suggestion, take all your hours spent on performing the rehab tasks and calculate what your hourly rate was form your profits. It may be beneficial for you next time to hire out tasks that are “below your pay grade” so you can focus on the higher paid tasks like finding deals, raising money, building your team, adding systems for efficiencies, etc.

Will,

Thanks for the suggestion! That was one of my "woes" from this last project, how long it took me. I was planning on 2 months when it actually took about 3.5. If I continue flipping, I will definitely work on assembling a team.

Thanks Again! Cheers

I think Will is absolutely right for the long term. But if it's one of your first few flips, I think there's something very valuable about getting your own hands dirty to see what the process is like from the most basic angle. You understand how much time and energy different tasks take and then you can use that info when gauging bids/timelines from your contractors.

Sometimes "obvious" things (use large tile instead of small tile where possible and you'll save time and money) aren't all that obvious unless you've done the work.

True!

0 Votes

Originally posted by @Marquis Okafor:

Congrats on the flip! Always a great feeling to have one under your belt. Wish you many many more!

Thanks Marquis! I appreciate it!

0 Votes

Originally posted by @Stephen Mansfield:

@Jamie McCauley

Congratulations, the first is the hardest one to achieve but builds momentum

Thanks Stephen!

0 Votes

Originally posted by @Ben Omaha:

did you know anything about construction? I'd love to flip but I don't know where to get contractors

Hi Ben,

I have had prior experience working on my own homes and also rental properties. Ive learned through doing it! You can too

1 Vote

All Forum Posts by: Jamie McCauley

Jamie McCauley has started 3 posts and replied 56 times.

Post: Just put our most recent flip under contract. $62K Profit

Post: Just put our most recent flip under contract. $62K Profit

Post: How do you save money on your house flips?

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!

Post: Just finished my first flip! $30k profit!