This was one of our first flips but one of my favorites as well. Maybe it will inspire someone else to complete their flip.
Purchased off market for $19,900
Remodel Costs: $70,000
Sold on MLS in 45 days for $112,000
Nice looking flip! Just drove through Farmville today, I'm always curious how many active investors there are in such areas. Did you factor in transaction costs into your numbers?
Awesome flip, Ben. Out of curiosity, how long did the rehab take?
@Taylor L. glad you made it through town. Let me know if you come back through and I'll take you to lunch! There doesn't seem to be a lot of investors doing flips but we have a huge rental market with both colleges. We did factor out holding and transaction costs in, I just didn't break it out that far.
@Robert Bodmer this was our second flip that we completed a few years back so it took about six months to complete. I was a very new investor and we had only completed one other gut job prior to this. I'm glad we have some better systems down now because that one was stressful!
Hi Ben, wonderful looking place you made. I'm relatively new trying to find off market properties for flip. Would you suggest where should I look for? I'm looking around my area Northern VA, but haven't seen any yet.
@Nimra Muhammad unfortunately NOVA is a monster of it's own. You should find a real estate agent that works specifically with investors and have them send you some listings. Know your numbers and what you can afford to invest. I wish I could be of more help but I'm investing down here in the less crazy part of the state! Good luck!
Great job Ben! Now onto the next one...
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