My first house flip

5 Replies

Daughter noticed foreclosure sign in window.  House was vacant and door was unlocked.  Looked house over and checked comps on county web page and called the POC.  Offered $62,000 for this 3/2, 1500 SF home & put in contract we would close on Dec 29th and we could work on it while awaiting closing.  Got cash for downpayment at bank from a credit card.  Put about $8,000 in it with wife, daughter, son-in-law and I doing all the work except carpeting 3 bedrooms.  Had 3 offers the first week of January and closed Jan 7th for $107,000.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you