Southern Maryland Rambling Ranch flip
So after about two years of Massachusetts deal searching part-time with minor success in wholesaling, losing consideration and lots of time on a Middleton condo conversion (could not capitalize), I have the opportunity to do my first flip.....in Maryland.
The1986 rambler is 30 miles southeast of D.C. ON 2.5 acres. The property is 1488 sf with a detached garage. 3 beds/2 full baths. ARV is $300k based on comps currently, but in 6 weeks a new BPO will be done after a few more sales and it could make entry at 309,900.
Rehab is kitchen remodel including adding a window, both baths, hardwood throughout common areas, trim package, new roof, and expanded deck.
Even though I've performed condo conversions for a broker in Weston as an employee/Construction Supervisor and done many interior and exterior rehabs as GC, I really needed an actual flip with a short timeline to prove my value to equity partners.
Friends and family thought I should have quit a long time ago on my dream to make money in real estate. I kept myself afloat finishing basements and whatever I could to survive.
Persistence pays off.