Although this took way longer than expected due to contractor issues, I'm proud of the way it turned out and happy to report that it is under contract after on 3 days on the market! It's a 3BR, 2 full bath row home in Baltimore, MD and we added an additional BR in the basement. (See before & after pics below)
Breakdown is as follows:
Purchase Price $54K
Rehab $50K ($8K over budget)
Holding costs $8K
Under Contract $140K
Approx Profit $12K
Due to holding longer than expected(almost 6 months) and unbudgeted rehab costs the profit is less than I had hoped, but still not too shabby for a first timer. I had a lot of help along the way from my Hard Money Lender and a Mentor and learned a lot of hard lessons, but I'm so glad I jumped in feet first and accomplished this. I'm now on the hunt for my second and hopefully third flip.
Now that's a great transformation! You should be proud. :)
What kinda profit were ya hoping for going into the flip?
Looks great! Awesome job and smart decision going with high quality photos...they make a huge difference!
Looks fantastic! You should be proud!
You are truly an inspiration! Congratulations on your well deserved achievement.
It looks absolutely fantastic.
Great work @Rachel Gill ! I hope for a quick closing!
That looks really nice! You did s good job!
Beautiful! Thanks for sharing. Some people pay thousands for a guru to teach them about REI, you earned $12k for your education, great job!
@Rachel Gill Congratulations, it looks great!
Looks fantastic, great rehab
Great job! Your story is truly an inspiration! The outcome is great, keep up the good work!
Looks amazing! Congrats.
@Rachel Gill you should be so proud of yourself, you transformed that dump into a show place. You are making a great improvement in that housing development and town. Persevere!
Good Job, looks great.
WOW, awesome transformation! I cannot wait to do my first flip! Congratulations on getting under contract. The after photos look stunning.
Congrats! Nice job!
Night and day!
Congratulations - great job!
The "after" looks awesome. You should definitely be proud @Rachel Gill . You got $12k in cash and lots more than that in education value. I bet you that your second (and third.... and fourth.... etc.) will go easier and better and it will be thanks to the real life education that you received on the first one.
I look forward to seeing your second flip's before/after photos.
Bravo, the place looks great!
Congratulations! It looks great! May I ask how you found your mentor? Walking away with a profit on your first deal says a lot about the time you spent preparing! Great job!
Great job @Rachel Gill the row house looks amazing! No wonder it went so quick:)
excellent work...looks great.