Share Your Success! Pics, Flips, and $$$

491 Replies

Hey BP! 

So this thread is for you to share your success!

I want to show the world ALL the amazing flips/rehabs our members here on BiggerPockets are doing and have done. 

Here's what YOU'VE got to do -

Upload Before & After pictures of your projects, give a brief description of the property w/ location and (if possible) provide some basic numbers - Purchase price, Rehab, ARV, Net Profit.

These images may very possibly be shown on the BiggerPockets social media accounts (Facebook, Twitter, Instagram, Pinterest, etc...) So bring your BEST! 

Lastly, make sure to Like our FB page and follow our other accounts @biggerpockets !!! 

Can't wait to see all these rehabs!

Id be happy to share my last deal. I bought a condo in a retirement community for a flip, and the purchase closing which I did with my own Real Estate license was closed on December 18th of 2016. After getting all of my plans approved through the HOA I started the demolition on the 27th of December. I used contractors through the whole process and it was the first flip I have done with out doing any of the actual physical labor myself. I did design and buy all of the finishes and delivered most of them to the job site, but for the first time it was a relatively hands off experience. There were a lot of problems, as there always are but I am really excited with the finished product. I finished the rehab on the 19th of February and I just listed the property on the MLS. This is also will be the first project that I have bought with my license, project managed, designed, funded, and sold by my myself from start to finish.

Below are some numbers on the project and photos. 

Condo 2 beds, 2 Baths, 1200sqft.

Purchase Price = $153k   $158k- $5k (waived commission)= $158k

REHAB = $28K

HOLDING COST  = $3K

LISTING PRICE  = $232,900

BUYER COMMISSION/CLOSING COST= $10K

PROJECTED PROFIT = $38,900

BEFORE PICS

AFTER PICS  CLICK THE LINK

http://tours.virtuance.com/471780

1) Bought and managed my own new construction home project

2) Negotiated the price of the house from $257,000 to $250,000, rearranged the interior of the home and selected the color scheme for the exterior of the house

3) Shopped around for custom-made kitchen cabinets, carpet, hardwood floors, tiles, light fixtures, and appliances

4) Installed the hardwood floors, tiles and bathtub surroundings, and painted the whole house all within a week

5) Finished a room in a basement from scratch – framed it, sheetrock, door installation, walk-in closet, electrical, wall texture, painted, and hired the right people to finish the carpet and window seal installation - Total cost about $2300

6) Sold the house 22 months later for $285,000 and made a net profit of approximately $35,000.00 after escrow reimbursement, cashflow from rental income, interest on property tax return and amortization.

Great experience and good return on my $13,000 initial investment. 

See link below for pictures on zillow:

http://www.zillow.com/homedetails/3691-S-300-E-Salt-Lake-City-UT-84115/83816665_zpid/?utm_source=email&utm_medium=email&utm_campaign=emo-postingconfirmation-fsbo&utm_content=hdp 

My best flip.

Bought a move in ready 3 bedroom 1 bath older home.

Had my handy man paint the red bricks on the front of the house stone gray. Cost $200.00

Sold the house the next month for a profit of about $7500. 

The moral of the story for my history doing flips is     "the less I do, the more I make"

Originally posted by @Arlan Potter :

My best flip.

Bought a move in ready 3 bedroom 1 bath older home.

Had my handy man paint the red bricks on the front of the house stone gray. Cost $200.00

Sold the house the next month for a profit of about $7500. 

The moral of the story for my history doing flips is     "the less I do, the more I make"

 Nice flip!

I bought a home for 47k put about 60k into it. I have listed it for 180k. Got full price offer 3 days later after listing it on Zillow for sale by owner. I am going to pay 5400 in commission. If it closes I should make about 67k. It needed sooooooo much work! It really did turn out beautiful! It was basically down to the studs. Everything is new. Now I'm thinking I may have underpriced it. Not sure how to add pictures on here from my Cell.

This post has been removed.

Holy cow! These are all fantastic! I want to be like all of you when I grow up! ;) My little buy and hold project pails in comparison, but I'm a rookie, so I consider it a grand success!

Closed on a small 2/1 in a stable area of NE Indy on 12/30/2015. Paid 23k cash, put 10k into new kitchen and various small repairs and paint throughout. Ready to lease on 2/28/2016. I did all the painting myself and my handymen did the rest. Showed house three times to colleagues from work before handing the keys to PM . First person showed signed lease and is moving in 4/1/2016. $725.00 a month. I'm looking to cash out refi now, and start another one. Not nearly as big numbers as you all, but I'm tickled pink with it!

I just closed today(3rd March) on a Triplex, asking price was 130k, I got it for 105k, high county taxes but I'll get 600+ monthly after expenses! 

Triplex in Kenly NC....1st property down several more to go!!

This is 6-unit building that we bought for $1.188M, spent $42k for renovation, sold it for $1.55M and netted $230k profit. One day I drove by and saw a homeless guy slept on the mattress that one of the students threw out.  Check out the tree in front of our building.  All I can say is those girls had fun while living there.  :>)

Ha, @Minh Le ! A turd in the toilet is my usual "tell" that I'm going to get a great deal, but a homeless guy sleeping on a mattress in front and lady's undergarments hanging from the tree are great "tells" that I'm going to be on the lookout for now. Makes you wonder how they were paying their rent ... at least it is steady income, even if you can't verify it :>)

@Kevin Fletcher what an incredible transformation! I'm blown away with the design and look.  I'd love to know more about about the materials you use.  

Do you source everything at a Home Depot/Lowe's? Do you use the same look/materials/colors for each project?

Great job!

-Andrew

Thanks so much for the feedback @Andrew K. I usually do different finishes for each project that's the fun part to me. I did get some stuff from lowes and Home Depot. But I try to avoid it mostly if I can, I hate walking into any home and seeing those same vanities and accessories you see in every other flip that were bought at Home Depot. So I try to change it up a little. 

I am a Hard Money Lender by profession but I also do some of my own fix and flips.  My last completed project

was in Lomita California.  Purchased for $505,000 and sold 3 months later for $625,000.  I put $25,000 into the project.  Attached are photos.

@Judy Rae wow! Another great example of amazing finishes and detail work. It's incredible to me that you only spent $25k on the rehab. It looks like you spent twice that!

Are white appliances making a come back in higher end homes? May I ask what brand you used?

I've also noticed that grey seems to be a popular color choice for a variety of exterior and interior surfaces. Not just your project, but it's also a growing trend around me. Looks great!

Awesome job. Looking forward to seeing more!

-Andrew

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