Flip in Lafayette, LA

2 Replies

We just sold our most recent flip right before Christmas and here is my breakdown of how it all went down. The property we purchased, located at 109 Charles Read Ave Lafayette, LA, was on the market for 40 days before we made our offer. The home was listed at $190,000 and we offered $160,000 cash and close in 2 weeks. The sellers just so happened to receive another offer at the same time that was higher but the offer was a financed offer. We wrote the sellers a letter about our background and our plans for the house and I think that helped tipped things in our favor. They ended up accepting our offer 15 minutes before the expiration. 

We ended doing a full gut and adding on a master bath. 

After 6 months of renovating, we finally listed it on the market Dec 6th for $385,000. The home turned out to be 2,300 sqft and 4 bedrooms with 2 baths. We had 7 showings in the first day and 3 offers above asking price. We accepted an offer for $396,600 and closed Dec 21st! 

Can't wait for the next one! 

Nice finishes! Cost of rehab?

We ended up being around $160,000 for cost of rehab

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here