Successful flip with BP partner

29 Replies

Hello all,

I wanted to share a recent flip that I completed with a BP partner. Summary of the deal is below:

Purchase Outlay $38,000

Repairs and Holding Cost approx. $52,000

Total Cash Investment $90,000

Sales Price $131,000 

Net Profit after Closing Cost $28,500

Total time from buy to sell 5.5 months

Below are some before and after pictures also:

Living Room:


Dining Area:


Basement Unfinished:

Finished Basement:

Looks great, Sharad! Is the back splash in the kitchen the one they sell at Home Depot that is a single sheet, similar to wallpaper? I saw that on a recent visit there, and I thought that would be good for a rental, but I am not sure what the cost is for the actual individual tiles and then placing them by hand (obviously more time consuming). 

Very nice job!  I really like the tile work you did in the kitchen and bath.  Looking at these pics makes me really look forward to our first flip.  Keep up the good work!

@Sharad M.

 Was your BP partner local or out of state? Very nice job on the property!

Good job.  I really like the tile in the bathroom.  I'm doing a rehab now and I went with a cheaper option, but I considered that shape tile.  Next time for sure.


Very nicely done !!!!! The place looks great and you and your partner made a profit. A successful flip for sure. What's your next deal? 

@Chanté Owens Thanks! Pretty much everything in the house that you see is from Home Depot. We bought some roofing materials from Menards, but all the finished items are from Home Depot including the backsplash.

@Christy Barton Thanks! I like how the kitchen and bath came out, but the problem is I have 10 flips going on right now and I am looking for a new look for the houses because I don't want all my houses to start looking the same, but this combination came together really well.

@Anthony Peric The BP partner is out of state. In fact, I have never met the BP partner. We connected through BP, exchanged emails and talked on phone and decided to work together. In the end, it worked for both. Thanks!

@Randy E. Thanks!

@Wayne V. Thanks! I have 10 other flips going on right now at various stages of the flip process. Some under contract, some under rehab and some on market. The challenge is to always be replacing a new flip with one that gets sold. 

@Sharad M. nice work, not overdone, I'm more impressed that you have 10 flips going on, best to you!

Hi Sharad,

How are you finding your deals? 

@Don Harris Thank you! I have an assistant and project manager and between them they manage day to day business, because in addition to flips, I also do rentals and wholesale deals and that is higher volume than flips.

@Wayne V. Mostly from MLS. This particular one was from MLS. I get some deals from own marketing and directly from banks.

That looks great. Also a good turn around time on the whole project. Are you searching for any JV collaborations at the moment?

What a difference. Doesn't even look like the same home. Great job!

Awesome flip. $38k purchase and $131k sell price - that is an impressive spread for a low end home. Hard to go wrong when you are able to buy that low. Wow.

Love the drywall and lighting improvements on the ceilings in the living and kitchen areas - really updated the home.

Great work! How long have you been flipping/RE in general? Di your partner provide private funds or did you use HM?


Great job on the flip Sharad!- It looks similar to one I completed and sold in East Atlanta.  Do you ever do any business down in Atlanta?

@Sharad M.- Hey Sharad, That flip went well, was under contract within a week.

Lately, we have been trying to ramp up our flipping side of the business, we recently partnered with a local hard money guy here in Atlanta who has a pretty good deal for us (15% down, 85% on purchase, 100% on the rehab cost, doing up to 75% of ARV, wrapping our points into the loan, at about 9.25% interest- and we are coupling this with private equity investments from local guys to cover the 15% + carrying cost, in exchange for 35%-50% of the profits- depending upon the size of the job and capital required. This strategy has led us to have a bounding rate of return on our projects. But we have been struggling to find (1.) Our "sweet spot" in our market- project size wise, I think we will end up in the $550K price range for our finished assets for the most part on the east side of the city. (2.) Its also been a struggle to find enough Gap equity for the volume we are looking to do....But overall, they are turning out fine, we would just like to grow our pipeline of projects, so we will continue to involve local equity guys to try to grow the pipeline. We are rapidly moving toward growing our "Southern Standard" design concept on our homes.

 Are you having the same problem or have you found a solution?

awesome bathroom! You can poop and brush your teeth or wash your hands at the same time. Haha.

Did u hire contractors for the work?

Congrats Sharad!  this looks great  . Looking forward to connecting soon !               

I've been looking for a partner to rehab with as well. What pointers can you give to a successful partnership?

Congrats!  I am impress with house and the numbers of flips you are simultaneously working at one time.  Good job.

Originally posted by @Martin S. :

awesome bathroom! You can poop and brush your teeth or wash your hands at the same time. Haha.

Did u hire contractors for the work?

 haha, finally someone sees my vision on a bathroom.....just kidding

Yes, I hired subs to do all the work..I didn't do any work. I am not handy at all..My roofer can put a new roof before I can replace a lock

Originally posted by @Arhum Nomani :

Congrats Sharad!  this looks great  . Looking forward to connecting soon !               

 Thanks, Arhum..I appreciate. Look forward to it too..

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