Flipper/Rehabber · Fort Lauderdale, FL · Member since 2014 · 77 posts · 38 votes
Hey everyone! I have not been on here for a while due to this HUGE project! It is finally completed! This one took a little longer than expected due to some surprises but all in all it was a great rehab. Now to get it sold and on to the next one! The house is 2400 SqFt 3 bedroom 2 bath home.
First the numbers......
Purchase Price - $130,000
Renovations Total - $59,076.43 ($64,597 was my budget)
Real Estate Investor · Missouri City, TX · Member since 2014 · 10 posts · 0 votes
12y
@Joe, It looked like you did a fantastic job for your 2nd rehab....well done! Did you hire a general contractor to oversee the rehab or did you manage the whole process yourself? I always wanted to do a flip but having cold feet. From the before and after pictures, this was a major rehab. The rehab house looks very modern and sleek. How long did it take to complete this project and in your opinion what was the hardest part in the rehab process? Good luck on your next flip!
@Joe, It looked like you did a fantastic job for your 2nd rehab....well done! Did you hire a general contractor to oversee the rehab or did you manage the whole process yourself? I always wanted to do a flip but having cold feet. From the before and after pictures, this was a major rehab. The rehab house looks very modern and sleek. How long did it take to complete this project and in your opinion what was the hardest part in the rehab process? Good luck on your next flip!
Thanks! I oversaw the entire project myself and had several different contractors come in. I have one guy that does most of the work and I had a specialist rewire my electrical panel. This was a huge project, even beneath the walls. The house had aluminum wiring at the panel which had to be changed and a lot of plumbing changes. I purchased the property Feb 24th and it was completed on May 3rd. It would have been done 2 weeks earlier if not for a delay in roof tiles.
As for the hardest part.... I would say its all the same, but the most IMPORTANT part is really making sure you check deep into a property before buying it. I had no idea about the wiring and plumbing prior to purchasing this home which cost me an extra $8000. I was lucky to over estimate everything and still come in below budget but it could have been a real nightmare. Finding a good group of workers could be considered "HARD" but if the team is in place and your confident with what needs to be done, home much it will cost and what the ARV is then its all smooth sailing.
Real Estate Agent · Winter haven, FL · Member since 2011 · 572 posts · 336 votes
12y
Great Job! I looks very good... I can't help but wounder if it is lacking cabinet space for a $300k houses? Maybe thats just my personal thought. But that slab of granite stands out and will steal the show. Keep us updated
Flipper/Rehabber · Fort Lauderdale, FL · Member since 2014 · 77 posts · 38 votes
12y
Thanks everyone! It has been a huge project and Im happy to have completed it. I will say to all the people waiting to "dive into this business" its not nearly as scary as it seems. My first project was a small condo that I basically couldn't lose money and it was not scary. This home was large and there was that "chance" and at first it was nerve racking knowing any "hidden" problem could be scary but as long as you do yout numbers and do the right thing you will come out victorious!