To say the least our latest flip is not a light one! The location on the river in a desirable area is what allows us to do this large of a project. Put this house 1 block away off the river and it wouldn't make sense. Basically, we are printing money by adding square footage. We did another house a few blocks away on the river and it sold for 515K at 1500 sq. ft. This house will be about 2300 sq. ft one level.
Purchase Price $300K
Construction Budget $200K
Sale Price Goal $699K
Cool project Aaron!
What's your timeline for a project this size?
Nice! i haven't tackled anything near that scale yet. my next one will be about 70k or so in total reno costs. post pics when you're done.
Did you get a bank loan for this? If you did, did you have to tell them? 'BTW, that collateral you have- I am going to strip and transform it beginning tomorrow.' LOL
Will your project end at a good time to hit the market? I guess Feb, March isn't the worst time.
Are you in the contractor business? Maybe part of 'we' is a partner that builds? I like what you're doing. Looks more feasible than popping the top and building up. If I had a team in place I could probably do this to some little orchard houses along the river. Build out and flip. I like it!
Congrats and please keep us posted when finished!
I almost hyperventilated looking at the size of that project...