Running Diary of a 2-Family Flip in Southington, CT

[Michael Noto]

@Bill Labrecque  and I closed yesterday on a 2-family flip in Southington, Connecticut.  As project progresses we will document the progress on this thread.

Here are some of the key numbers:

• Purchase Price: $87,500
• Rehab Amount: $45,000
• ARV: 195-200k
• Area: B+ (this is a great town w/ great schools and there are only 10-15 multi families that sell in this town per year)
• Rents: 1st floor large 1 bedroom ($1000), 2nd floor large 1 bedroom ($1000)
• 2 gar garage
• Gas utilities
• Taxes: $3451
• Land: 0.33 Acres

Our plan is to fully rehab this property and sell it after the rehab has been completed.

We will be posting a scope of work here soon that will detail where the $45,000 budget will be allocated.

Here are some before pictures of the house