Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

10
Posts
0
Votes
James Angelica
  • Real Estate Investor
  • Metairie, LA
0
Votes |
10
Posts

First Flip

James Angelica
  • Real Estate Investor
  • Metairie, LA
Posted

So I just completed my first flip. It is a 2bd condo in the suburbs of New Orleans. I took it on to gain some experience and build my list of contractors. Here are the numbers.

Purchase - $58k including closing

Rehab - $13,500 including condo fee and insurance

All in - $71,500

Stained cabinets, Granite in Kit/Baths, SS Appliances, New windows, updated fixtures, New doors, Recessed lights, New Carpet upstairs, Stained grout downstairs, minor fixes throughout

I listed for $99,900, last one sold for $94,999. I recieved an offer within 3 hours for $95k + closing cost of $3500. I stand to make $14,300 if I take the deal or I can hope for a few thousand more and risk it sitting on the market. 

Opinions please!!!

Loading replies...