All Forum Posts by: Michael H.

John Kesner I subbed out all interior painting and drywall, electrical, most plumbing, Windows, trim, wood floor, sod, landscaping, tub refinish, tree trimming, tuck pointing, counter tops, roof and flashing repair, and final clean. I did all the demo, tile work (never doing again), install cabinets and hardware, (they were new box cabinets from a wholesale cabinet company), installed finish plumbing, installed appliances, pressure washing of fence, drives, basement walls, framing of washer/dryer walls and a lot of minor things along the way. Also all of the oversight, planning, negotiating, scheduling, and running numbers. I enjoyed most of it. I've done a lot of tile in the past and learned I'm never doing it again. I'm also looking to do less and less in each one.

@Nathan Mansur I have some photos but I don't know how to resize them to put on this page from my mac

Eric Jackson I had reached out to multiple people I knew, including agent, and an agent provided me the opportunity to make an offer to her sellers before it went on the MLS. They wanted $80k and I got it for $165,500. I ran my #'s based on selling it at the least I thought I could get it at which was $125k. I projected $39,000 in repairs and came very close to that number but just shy by $1000 or so. I thought the high I would sell it for would be $135k but when my agent loved it and thought we should list it at $145k. So we went with it. She is one of the top agents (brokers) in my area and told me she's never received 14 offers on a house and this was in just 4 days. It sold for $157k as is and no appraisal contingency. We had a $166k offer but we weren't confident it would appraise and didn't want to run the risk on a 2/1.

I've been absent from the forums for a while as I just finished up my 1st flip. I closed 6-20-16 and accepted 1 of 14 offers this morning after 4 days on the market

Purchase price - $65,500

rehab and holding costs - $38, 775

amount invested - $104,275

Selling price - $157,000 as is with appraisal contingency waived

Real estate and closing costs - $9,050

$157,000 - $9050 = $147,950

$147,950 - $104, 275 = NET PROFIT = $43,675

I'm sorry but I didn't read the entire thread so I'm sorry if someone else mentioned it. Could you get a HELOC on the $100k and have it available to pay the hard money lender? Try Rob Morgan at Lead Bank. PM me for his contact # if you like.

Welcome to BP. What parts of town are you looking and working in?

Welcome! I would recommend whatever works best for you. There's no correct answer. Be patient and identify a direction. Have criteria of what your deal must look like. Once you find it pull the trigger

Well I'm just about completed with the flip. The target date to have on the market is Sept. 15th. I'm well above my target profit margin. If it sells for the expected lowest price ($125k) with an agent I'm at $20k profit. I believe it will go for higher than that. I'm pretty stoked over the possibilities especially since "they" say "you'll be lucky to make any money and possibly lose money on your 1st". Thanks to BP forums, podcasts, and tools to help make this possible. We don't have to make the same mistakes those before us made. Success leaves clues! One last thing. How do I post pictures of before and after?

I'm here in KC and could be some boots of needed. If the deal is right for me I have some funds available as well.

Kim Tucker could you give me some more info of where/when/time of meet up?