Updated almost 11 years ago on . Most recent reply
First Flip
Hey guys,
I'm 19 years old and reside in yonkers, NY. Hopefully going to be closing on a single family here in yonkers in the desirable neighborhood of park hill. Its a corner lot 6 bed 4.5 bath with a full walk out basement. Needs a new roof, alot of cosmetic repairs, some landscaping. Plumbing and electric are intact but baths need to be redone. Looking to close on it for about $280K and estimating repairs to be $50K. This will be my first flip so im super nervous and anxious. Cant wait till i get the keys and start the work. You can say i found this property by accident, my dad was searching for single family homes for us to move in too and stumbled upon this. The bank didn't want to do a 203K loan and wanted cash only offer. My dad knowing the love i have for real estate pitched the idea of coming up with the cash and rehabbing the property. Thanks to him we are in the process of getting a contract with the bank. ANY advice would be great in all sections: repairs, design, budget, contractors, things to avoid, getting ready for open house and list on market etc. I would highly appreciate it. Also im a small business owner but want to get into real estate full time and looking to network alot.