First Flip: Craftsman Home in SoCal
I moved to from NYC to Southern California in March 2016 with the goal of going all-in into real estate investing. The BP community & forums has been critical to my learning curve and was a lot of fun taking the inspiration of the podcast and putting it towards my flip.
I found the house on the MLS (!!!) in August and the overall project took 10 weeks to complete.
There are deals you can find on the MLS, it's all about fine combing through the listings on a regular basis.
Costs
Bought property for: $287,000 (asking price was $278,000)
Estimated: $50,000
Actual: $61,000
Total invested= $348,000
Closing costs = approx. $25,000
*** The open house is this weekend for $425,000.
Projected Profit: approx. $50,000
**** After Video: https://vimeo.com/192682664
Here are the Before images:
Back of House
Before Staircase
Before Bedroom
Before Kitchen
Main Bathroom
Before Backyard
I'll keep this thread updated with the eventual selling price. Cheers!