Successful Indianapolis Fix and Flip!
This deal was a HUGE learning experience. The property was right at 5k Sqft. The original owner never quite finished it. They were actually living on the subfloors when we bought it. This was my first ever purchase directly from the MLS. Everything else I've ever done was acquired through my marketing/live answering.
This one actually went under contract on my 23rd birthday.
Purchase Price: $131,000
Rehab: $189,000 (this included 20k in inspection items)
All in: $320,00
Sales Price: $390,000
Profit: $44,510.66
Lessons/Thoughts Below Pics
Very neat entry way.
Living Room/Entry
Kitchen (Cabinets were unavailable in the color we ordered. Worked with what he had and utilized the lighter granite to transition to the flooring. Everyone loved the kitchen.
Dining Room
Master W/Access to Free Floating Deck
Second Master Suite
Secondary Master Suite on the lower level
Finished Basement. I LOVE the floor to ceiling windows.
Views like this aren't super typical for Indy!
This project was 5beds 3.5 baths. We decided to finish a 2nd master suite into the lower walk out master. The free floating deck had to be rebuilt due to bad supports. Our contractors got off schedule by about 6 weeks. This GREATLY affected our sales price. We have since implemented a penalty/bonus system to incentivise adherence to scheduling.
At the end of the year this was a fantastic project. It's an absolutely beautiful home that will last the owners a VERY long time. Every deal I've done has been more profitable than the previous one. Can't wait for what comes next! Thanks to everyone who helped on this one.