I began flipping houses more than a decade ago. I can recall how lost I was when I started and I wish that I would’ve had someone to guide me through the process and allow me the opportunity to avoid all of the mistakes and pitfalls that new investors experience. I’ve done a lot of thinking over the last few days about how difficult it was for me when I began. I thought about how hard it must be for the present investor without experience.
I am on Bigger Pockets almost every day and have seen countless examples of investors who talk about how much they wish they had a mentor or someone to help them along their investing journey. So, I’ve decided to try and help a little. I am a strong believer in “teaching people to fish” rather than merely “giving them a fish.”
Over the course of the next several months, I will be posting an on-going series that details my 8-phase process to flipping for (5) Atlanta properties. The price points of these investments range from $400,000-$750,000. The flips will include everything from new construction to major rehabs to full gut jobs…and even a really cool turn-of-the-century Victorian home located in Atlanta’s Grant Park Historical District! In addition, you will be privy to all labor and material costs. I’ll even share the material SKUs I use on these 5 flips. I will try to answer all questions as I guide you through this journey, step-by-step. And there will be plenty of before, during, and after pics for your viewing pleasure and even some videos.
I wish that someone would’ve done this for me ten years ago. It would’ve saved me tens of thousands of dollars and a whole lot of stress! Keep in mind, however, that flipping properties will never be easy. It takes a lot of hard work, on-going education, and dedication to flip and turn a profit. And unlike many of those TV shows and news reports, house flipping, although seemingly simple, it's not as simple as it seems! I'm going to do my best to simplify the process. At least once a week hopefully more, I will be sharing one of the eight phases of the flip as we do them. I’ve put together the following checklist for each of the eight phases - which simplifies what, in reality, can become a very complicated process. I want to remove some of those complications! Here are the 8 Phases of the Flip:
The 8 Phases of Flipping:
1. Project overview - basic info, size, location, numbers, how found property, budget, blue prints, permits, surveys
2. Demo - cost, number of dumpsters, time start to finish, crew size, landscape clean-up
3. Rough Construction - framing, electrical, HVAC, plumbing
4. Exterior - window, siding, roof, decks/porches
5. Interior - drywall, trim, doors, flooring, paint
6. Kitchen - layout, cabinetry, countertops, backsplash, appliances
7. Bathroom - vanity, countertops, fixtures, tile, floor, shower, accent
8. Finished product - landscape, punch list, cleaning, branding, staging
Be sure to keep in touch and feel free to submit any inquiries you may have. I’ll do my best to answer all of them. If you happen to be in the Atlanta area, Maybe I could show you the flip process in-person if you would like.
For now here are the 5 houses: The next post will be later today explaining each of the 5 houses in detail. Lets do this!!!
Thanks and see you later today with a post for each house!!
Andrew Cordle, Andrew Cordle | [email protected]