I just finished my first flip. The house was purchased off the MLS as a banked owned. Asking price was 119k and I offered 125k cash two weeks closing. They accepted the offer.
Repairs. I am purchased a house flipping spreadsheet to estimate my repair cost, holding expenses and selling fees. I also used this spreadsheet to track my expenses. www.houseflippingspreadsheet.com
I estimated around 24k in repairs plus 20k in real estate selling cost. I replaced all the floors, new kitchen, baths, paint interior and exterior, new doors and trim. I had a contractor paint the exterior. 125k + 24k + 20K = 169k invested.
I am finished with the house and spent 26k in repair cost so I went 2k over budget. The house is listed at 225k with multiply showing every day.
I would like to here your feedback and let me know if you have any questions.
Soooo pretty! I bet that sells quickly.
Thank you. I have one showing today and four yesterday.
Congrats the numbers are solid get that thing sold and repeat the process!
Thanks Brian. Hoping to make around 50k on it! And yes ready to repeat the process but thinking about 2-3 months next time. This one took around 5 months.
Wow, congrats Daniel! The rehab looks great and the numbers look even better! $50k+ profit on $225k resale is a home run by anyone's standards! I hope you get it sold soon!
Looks great man! Very nicely done. In regards to your next flip, I bet you will have no issues cutting the flip time in half now that you've worked out the kinks in your planning, timing, budgeting, etc. Fine tuning your processes will certainly save you time and therefore, money. Can't wait to hear how quickly this sells!
Hi Daniel, your flip looks great! I'm looking to do a flip in Atlanta and my issue with my first house that I purchased was dealing with bad contractors. I never completed that flip because a huge tree fell on the house and I sold it as is… my question is did you do the work on your house yourself and do you know of any reliable contractors you can refer me to?
It looks beautiful Daniel. Great job!!! Best of luck!
Nice find on the MLS. Looks like you did you a great job! Now only if you had your real estate license or a investor friendly broker who didn't want to take all your hard earned profit! Good luck!
CONGRATS @Daniel Andrews , this looks great!!!
Looks great! Now if you need help from a great ATL area closing attorney, give me a shout!
looks awesome dude! care to elabarote a bit on how you financed the purchase and rennovations?
@Daniel Andrews Great job! What's the address? I have a friend that is now renting in Canton.
This looks really great! I am closing on one now, June 29th to be exact. This is will be my first one as well, so I will be watching with eager anticipation. Keep me informed!
@Daniel Andrews hey! Congrats!
I am doing my first flip in Decatur. How do you feel about staging your property? At SF, we stage but homes are in Millions. I don’t necessary see a lot of that in Georgia. My agent believes in Virtual staging with no open house and allow serious buyers to visit as they please. I see you are doing lots of open house. Let me know what you think and can’t wait to hear about your offer and thanks for sharing. 🤗
beautiful flip !!! May you get above asking !! I can't wait to get started.
Nice job and EXCELLENT taste. Proud of you.
Will you come redo my house? Lol. Looks great, love porch and kitchen! May you reap the rewards!!
Thank you for sharing the spreadsheet! The house looks great!
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