My First Flip: Before & After

128 Replies

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.  

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.