Updated almost 3 years ago on . Most recent reply
Profits on first flip
My business partner and I are looking at getting a SFR to flip in Springfield, MO.
we are trying to decide what a good amount of profit off our first flip would be. Obviously we want the deal to be a home run and make as much off of it as possible, but we don't know what realistic numbers are.
our plan is to get a hard money loan with rehab cost, flip a house in the $60k range and have enough profit to purchase our next flip, hopefully in the $100k price range.
what did you walk away with on your first flip? How long did your flip take?
$10k in 6 months? $20k in 12 months? Or am I way off and should be closer to $30k in 6 months?