Running Diary of a 2-Family Flip in Southington, CT
@Bill Labrecque and I closed yesterday on a 2-family flip in Southington, Connecticut. As project progresses we will document the progress on this thread.
Here are some of the key numbers:
- Purchase Price: $87,500
- Rehab Amount: $45,000
- ARV: 195-200k
- Area: B+ (this is a great town w/ great schools and there are only 10-15 multi families that sell in this town per year)
- Rents: 1st floor large 1 bedroom ($1000), 2nd floor large 1 bedroom ($1000)
- 2 gar garage
- Gas utilities
- Taxes: $3451
- Land: 0.33 Acres
Our plan is to fully rehab this property and sell it after the rehab has been completed.
We will be posting a scope of work here soon that will detail where the $45,000 budget will be allocated.
Here are some before pictures of the house
