All Forum Posts by: Patrick McPartlin

I like this thread!

I myself am a 21 year old full time student who just completed and closed on a flip (yesterday). It was a positive experience, and profitable.

Currently in the process of writing up offers for a second go at it! It is refreshing to see others similar to my age taking advantage of their time and resources.

Back:

Learned quite a bit of lessons on this flip but overall I feel really good about it. It was a profitable business venture and learning experience; success in my eyes.

Master Bedroom:

Upstairs Bathroom:

Upstairs Bath:

Stairs:

Front Bedroom:

Front Bedroom (Second):

Kitchen:

Downstairs Bathroom:

Basement:

Well well well does time fly by. "Tomorrow" turned into 4 months. Apologies.

But, the rehab has been completed. The house didn't even make it onto the market. It was purchased by the first person who saw it and we closed last night.

I am ecstatic. Here are the "Before" and "After" pictures for anyone interested.

Front:

Living Room:

Living Room/Staircase:

Stocks, stocks, stocks.

I'll give a very basic rundown.

So, say you want to invest in stocks and we'll use your example. You have $1000 to invest. You use some platform (etrade, ameritrade, financial advisor) to purchase shares of a company. If you had $1000 to invest and you chose Google, you'd only be buying one share as each share of Google is valued (last I checked) at or near $1000. Your number of shares is the most important factor when calculating potential returns for stocks.

Now there are two ways to make gains on these stocks.

1. If you buy the shares at one price, they rise, then you sell the shares to someone else.
2. If that particular company offers dividends on the shares you purchased.

Dividends may have been what you are referring to in your original post and the schedule/amount of these dividends varies by company. Google, I believe, does not offer scheduled dividends on their stocks.

Therefore to realize a profit, you'd have to rely on Option 1; sell your 1 share of Google stock to someone else at a later period in time for more than you bought it.

Hope that simple explanation helps a bit. There is certainly much more to stocks than I buy this stock now when do I get paid...Please continue to educate yourself before jumping into that ocean.

Typed up a huge post with pictures only to be rejected by the login page? Maybe I took too long or it was too long.

I dont have it in me to re-do the whole thing. Twas a valuable lesson learned I guess. But I will throw up these of the before and after of the house front from siding.

And the "basically" after. Matched the neighbors exactly on the color/style. They were very much grateful for that.

I'll throw a few more up tomorrow.

And sorry Johanna, but better late than never they say; no I'm not from Lodi.

Sorry for not updating or keeping this thread alive! ( And not getting a picture...)

A lot has happened in the past 3 months. I have learned a lot about project management/order, real estate in general, time management, etc. Needless to say the house is not finished. Part of the reason for this is because I decided I wanted to go hands on. As my first real experience with flipping houses I figured I needed to learn what needs to be done before paying someone to do it. This way I could better appreciate the work to be done and have a better estimate for what it should cost. Overall, I say this was a good decision.

The downside is that the project is over my timeline (by about 2 months). But learning is truly invaluable and I own the house outright so really just the taxes/utilities are adding on (Note: Not more than the money saved for doing it myself, so budget wise - still ahead).

Tomorrow I should be posting "before" pictures as well as "current" pictures to give an idea of what has been done.

Basically we have:

• Demo-ed kitchen, upstairs bathroom, flooring.
• Sheetrocked/taped/spackled/painted.
• Re-sided the entire house. (what a difference)
• New garage door.
• Installed sump pump/dehumidifier.
• Replaced all plumbing shutoff valves.

In the process of:

• Converting to natural gas.
• Having new furnace/AC system installed.
• Putting in new kitchen cabinets.
• New flooring.

Near future:

• Replace doors.
• Upstairs bathroom.
• Landscaping.
• Touch ups!

Then have a sale! Good news is that we have had a few prospective buyers approach us about the house who seemed to be quite interested. And new comps just came up in the neighborhood that support if not raise our projected exit price point.

Learning wise, I know what subcontractors I'd like to pay in the future haha.