So I'm curious about what your typical timeframes are on a flip. Let's just say an average flip (more than paint and floors but less than a total gut job). From the time you acquire the property, how long is it taking to get the property renovated and back on the market for sale?
I bought a total rehab in January, 3 bedrooms,2 baths,1 carport,hardwood floors,all brick,deck,workshop. I gutted the whole house and had a contractor do some drywall work in the family room. Myself and my two sons worked on the house for two weeks. I been working on the house for the last 6 months, reason being I wanted to know every aspect of a total rehab. I took a little more time than I thought, but the hands on experience you just can't get from any book or video. Now on my next rehab I will use a contractor for most or all of the work. I know how to do the work and how much I am willing to pay. I'm out the pocket about 12,500 for repairs and saved about 10,000. Time consuming yes, but whats the hurry. I see many deals where I bought this home. Have about 80,000 of equity in the home that is free and clear. A full rehab should take you 3 months and cosmetic fixer about 6 weeks.
I agree with Jay. A quick cosmetic flip should take no longer then 60 days.
Our YTD spreadsheet with all our partners shows about 92.5 days average.
I think thats a good reference point.
Best of luck in all your ventures.
Purely cosmetic (paint, flooring, light fixtures, plumbing fixtures, cabinets, countertops, appliances, etc) is 2-3 weeks. When you start to add in sheetrock work, add another week. Permits and inspections? Add another week. Structural or framing work? Add another week. Major mechanical or electrical work? Add another week.
So, typically 2-8 weeks, depending on the scope of the project.
My latest project I started on August 22nd - The day I bought it.. We did whole house siding, all new windows, sheetrock the whole basement, rerouted some plumbing and duct work, electrical, kitchens, baths, floors etc. House was completed last week. Total time was 4 weeks- Project before that was 3 weeks.
Total time should be anywhere between I would say 3 weeks to 2 months (major project)assuming you order things in time to make your timeline.
That's great Ophelia! Do you use a GC for all your projects?