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Future Flipper

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Brady Lucero

Great Falls, Montana

Feb 07 '13, 09:32 PM


Hello everyone,
I'm a 25 year old Journeyman Carpenter and my wife is a Realtor. We have successfully "flipped" two homes on the side now. We lived in each house two years to avoid capital gains. I did 100% of the work myself, made $40,000 on the first home and $30,000 on the latest.
Each of these homes produced a profit as large as my yearly salary and required MUCH less labor then a standard 2000 hour work year. Due to this I've decided to work 3 more years, build up a sufficient bank roll then quit my job as a Carpenter & become a full-time Flipper.

Of coarse I have tons to learn before embarking on this but I have all the enthusiasm and motivation in the world!

Would love to soak up all the knowledge I can so any advise would be greatly appreciated!

Here's a few before and afters of my latest house:


This was before all the siding was done...Haven't taken an updated shot yet.










Edited Feb 7 2013, 21:38 by Brady Lucero


Jennifer Lee

Real Estate Investor from Gibsonia, Pennsylvania

Feb 08 '13, 04:28 AM


wow great job!!! good luck!!! to me that sounds like a good plan ;p



James Vermillion Donor

Real Estate Investor from Lexington, Kentucky

Feb 08 '13, 04:50 AM


Congrats Brady, you are already doing it! I used to say I would only work a few years after I started flipping, but being able to put all of my profits into the business has really helped accelerate our growth. However, I there will come a point where it makes sense for me to focus all my time and effort on real estate investing, and when that times come I will do so. I am trying to let that transition happen naturally and not force the issue. That W-2 income can really help when it comes to financing, plus you can reinvest most of your profits.

Good luck!



Joshua Dorkin Verified Donor

BiggerPockets Founder from Denver, Colorado

Feb 08 '13, 06:15 AM


Welcome to the site, Brady! Thanks for sharing your pics with us. The flip looks good and it is great to hear that you're already on your way. We're here to help, so be sure to use the site as a resource.

Jump in and get involved!



Medium_bp-squareJoshua Dorkin, BiggerPockets
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Justin S. Donor

Real Estate Investor from Chandler, Arizona

Feb 08 '13, 07:47 AM


Hi Brady

Nice work on the flip. What did you do to the floor in the kitchen and the family room? It sort of looks like painted concrete, but the sheen is different.

Thanks
Justin



Medium_rezamp_buscard_whiteJustin S., Rezamp, LLC
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Will Barnard Video Moderator Donor

Real Estate Investor from Santa Clarita, California

Feb 08 '13, 08:06 AM


Welcome to BP Nation, you came to the right place. There are plenty of flippers on this board, including me. Great to have you.



Medium_be_logoWill Barnard, Barnard Enterprises, Inc.
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Website: http://www.barnardenterprises.com
http://www.InvestorExperts.com


Brandon Turner Verified Video

Real Estate Investor from Montesano, Washington

Feb 08 '13, 08:44 AM


Welcome to the site @Brady Lucero. The pictures look great! I love that you have a plan, and now just need to follow that plan to success :) Congrats and be sure to subscribe to the "DIY" Forum - (there is a button on the side of the page, when you are in any particular forum) so you'll be notified when new questions come up. I bet with your experience you can offer a lot of great advice on construction!



Medium_bp-squareBrandon Turner, BiggerPockets
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Brady Lucero

Great Falls, Montana

Feb 10 '13, 11:12 AM


Thanks everyone. I never realized there was a forum this great for real estate investing!

Originally posted by Justin S.:
Hi Brady

Nice work on the flip. What did you do to the floor in the kitchen and the family room? It sort of looks like painted concrete, but the sheen is different.

Thanks
Justin

The floors are an 1/8 inch thick bella vernici concrete overlay, stained and top coated. The manufacture guaranteed me as long as I put down HardiBacker there would be no problem putting this overlay on a plywood subfloor. I've had to completely re-do the bathroom floor and repair a few cracks in the kitchen. I would never recommend using this product on a wood subfloor.



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