Real Estate Investor & Consultant · Los Angeles, CA · Member since 2016 · 620 posts · 386 votes
BP Community,
This is Shawn Ward of Belle Hampton Properties in Los Angeles. My partner and I just purchased our next flip in South Los Angeles and decided that instead of posting a success story at the end (which I still hope to do), I'd actually post weekly updates here and can take you guys along the journey with us and answer any questions that may arise.
Background:
List Price: $425k
Purchase Price: $410k
Financing: With Hard Money Lender & Private Investor
Rehab Budget: $75k
ARV: $625k
Target Flip Timeframe: 10-12 Weeks
House: Beautiful Craftsman (see attached); it's a 2/1 now and we are converting it into a 2/2.
SIDE NOTE: We just went into contract on a second flip in Montecito so we'll be doing two flips at the same time.
@Phillip Le I do not perform any rehab myself. I make sure we are on time and on budget throughout. I am at our flips a few times per week. I am also continuously analyzing new deals and working with our investors.