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All Forum Posts by: Shanel Wiggins

Shanel Wiggins has started 25 posts and replied 165 times.

Post: Share Your Success! Pics, Flips, and $$$

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38
Originally posted by @Peter Amour:

this was a hoarder house that took us way longer than we wanted because we have college rentals turning over and also finishing another flip . i think we were about 10 months , part of the reason was i found a gold coin the first 2 days going through stuff ,and wanted to look at everything , that was pretty much the only valuable in the place :( did find some cool historic things from war , but not much value . we paid about $150k , we put in about $70K ( including trash removal, taxes, holding costs ) and sold for $293k .

 This by far is the BEST before and after I have seen thus far. The before was scary lol. Great job!!

Post: Share Your Success! Pics, Flips, and $$$

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38
Originally posted by @Michael Lam:

My first flip was when I was in my late 20s.  I purchased it for 222K on a short sale,  held it for 1 year doing all the newbie mistakes you can think off.  It was a complete gut out, but at the end I couldn't believe I made profit.  I ended up selling it for 336K a year later.

I'm on my 2nd flip now and currently negotiating a pocket listing sale.  Fingers cross I get this.  I'm planning to do a blog every step of  the way here or on my blogging site:  

 Congratulations on your first flip!!! What mistakes did you make?

Post: Share Your Success! Pics, Flips, and $$$

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38
Originally posted by @Chad U.:

Here is one we just listed, a fairly standard rehab:  

Purchase - $75K

Rehab - $35,700

Holding costs - $4,100

Buy/Sell costs - $11,600

List Price - $149,900

It's listed $5-$10K below comps so hoping for a quick sale.  

BEFORE:

AFTER:

 Nice!! How many beds, bath? Did it sell yet?

Post: Share Your Success! Pics, Flips, and $$$

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38
Originally posted by @Tyler Evans:

This was my 4th flip. We negotiated on the price to buy for $186000. Did all the work in house with my family who is all carpenters. The 3 of us worked 5 weeks 16 hour days and the finished project turned out amazing! Here is the link with before and after pics. She lasted 2 days on the market before having a full price offer. We are still filling out the paper work but a purchase of $186,000. Rehab cost of 17,000. With a gross profit of $57,000! 

http://www.zillow.com/homedetails/4100-Sw-Flintroc...

For all you flippers in the Kansas City area and Denver area I do custom terrazzo countertops. Mention bigger pockets and we an give a discount off the total project. 

 Great job. Beautiful finish!!

Post: Share Your Success! Pics, Flips, and $$$

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38
Originally posted by @Mark Ferguson:

I sold a flip last Friday. It was a doozy! I bought it in April of 2014 and yes it did not sell until February of 2016 and no it was not rented. Had huge problems with contractors and I didn't get started working on it for months because I had too many flips going. 

Bought it for $75,000

Repairs were about $70,000

Carrying costs about $5,700

Financing costs about $7,000

Selling costs about $8,000

Commission saved -$2,200 (since I am an agent and got paid a commission when buying)

Seller paid closing costs $2,000

Selling price $220,000

Profit about $50,000

Am I allowed to post before and after videos?

https://www.youtube.com/watch?v=FnFtorEyG78&index=...

https://www.youtube.com/watch?v=O1K2m7SxzlY&index=...

 Great job!!! I'm so impressed by your resilience from having to deal with crappy contractors but still selling and making profit after nearly two years. 

Post: Yonkers, NY

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38

Kool. Do you mind sending the listing to me?

Post: Yonkers, NY

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38

Sounds good. Are they 3-4 family homes?

Post: Yonkers, NY

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38

@Michael Lane

Yes I know sadly to say. But there are good parts (every town/city has its good and bad). Im not too familiar with Yonkers but I visited a couple of open houses and researched the different neighborhoods online. 

What part of Yonkers are u from?

Post: Yonkers, NY

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38

@Martin Rogers

Thanks. 

Post: Yonkers, NY

Shanel WigginsPosted
  • Investor
  • New Jersey
  • Posts 182
  • Votes 38

@Martin Rogers

Thanks for that advice. Congratulations to you..... 

If a 3-4 unit is above 8% cap but below 12% is that a red flag?