Running Diary of a 2-Family Flip in Plainville, Connecticut
@Bill Labrecqueand I are working on a 2-family flip in Plainville, CT. The property closed in the beginning of February. We have been meaning to post this for a while.
Here are some of the key numbers
- Purchase price: 95k
- rehab amount: 30k
- ARV: 190k
- Area: Solid B area (can something be a B+?)
- Rents: 1st Floor 2 bedroom ($975), 2nd floor 3 bedroom ($1100)
- taxes: $4600
- Land: 0.50 acres
- Gas Heat
Plan A: complete the rehab and refinance
Plan B: complete the rehab and sell the property
I will post the detailed scope of work later, but here are some before pictures
