Accepted an offer on my first fix and flip!
I'm trying not to count my chickens before they hatched but I got an offer that I accepted on my first fix and flip.
My cousin who is pretty big in the business and has been helping me along sent me this deal. I wasn't super excited about it because it was right next to an apartment complex. In hind sight I probably will not do another deal like it but it was a pretty easy rehab so I took it.
My first lender fell through because they didn't like it being next to an apartment complex. The 2nd option was a hard money. That really squeezed the numbers more than I liked but I had been sitting on the sidelines over analyzing deal for way to long, so I decided to jump in.
Rehab was supposed to take 4 weeks, but took 7 weeks. It was worth the price of admissions as I learned A LOT! I went over budge by about $1500 as I decided to do a tall fence between the house and the apartment complex.
Got one lowball offer that I countered and it fell through.
Got another one 2 days later over asking but wanting us to cover closing cost. I hopped on it.
In total it was on the market almost a month.
We'll see how it goes from here. So far, I'm glad I jumped in because I learned so much and am able to get my confidence up. So far (inspection not done yet) I am on track to make the bare minimum of what I wanted to make but again, learned a lot.
Here are before pics
https://www.facebook.com/media/set/?set=a.418013768265162.93296.383553101711229&type=3
and a few after pics
https://www.facebook.com/photo.php?fbid=436690423064163&set=a.436690313064174.96825.383553101711229&type=3&theater