My latest flip

79 Replies

Hello everyone,

For anyone that doesn't know me, I'm an agent/investor in the Central Orlando area.  A lot of people have been asking how my latest flip turned out so I thought I would share it with all of you.

Picked up at the auction for $112,100.00

Paid cash

Rehab $32,546.23

Closing costs, realtor fees and carrying costs $8,664.57

Sold in 3 days over asking at $199,000.00

Profit $45,689.20

Wish I would of taken before pictures.  I get so excited that I just want to start the rehab right away.  Will do before and after photos for my next one.  If anyone wants to see more of the after photos click here http://bit.ly/1N3O6Lt

If anyone has any questions feel free to reach out to me.

Wow. Just wow. As someone who's struggling to find that first deal, I'm jealous. Congratulations, @Erin Wysocki, on completing that first deal and making a very nice profit. Well done!!

@Jeremy Shinall Not my first deal, been in real estate since I was 20.  Feel free to reach out to my if you need any advice or help.  I've always done cash for my properties so I really don't have answers when it comes to creative financing or hard money.

@Andrew Davis is the king of creative financing and a great guy!  He's the one to ask for those questions.

Thank you for sharing , this is so motivational to me. First your a woman( Love that ) and your doing what I know I can be doing with just a little help. I want it so bad I can taste it and seeing this really give me hope. Awesome job  Congratulations !!!!! add me I cant add anyone else yet LOL  

Very Nice! Born and raised in Orlando and have a rental home in Windermere.  Looking for more Real Estate Investment opportunities.  Thanks for sharing.

Deb

Very well done and congratulations....I can recall just a few years ago all the incredible deals in Orlando and Kissimmee. My only regret, not buying more properties there. Great to see demand coming back into the market. Best of luck on future deals!

@Erin Wysocki  You obviously did well financially but aesthetically, I'm sorry to say,  I think it's poor.  I don't like the large floor tiles everywhere (even in the bedrooms!) and I don't like the tall cabinet between the two bathroom lavatories (it looks clunky and confining).

It sold quickly so I guess the buyer doesn't mind, but I wonder why you chose to do it this way.  Do you ever work with a designer? 

 How many properties go per day at the auction? Do you do your bidding online?  

Was your anticipated ARV below $199k at purchase? Seems like a good margin, why do you think you were able to buy this deal at the auction? Was it vacant at COE?

What was your total hold time and days on market?

I'm just curious about the market, sorry for all the questions

@Erin Wysocki well done!  And I don't know about the "king" of creative finance, but I appreciate it!

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