Just finished my second flip house and am seeking candid feedback from other house flippers on Design and Deal Profit.
Renovation Pictures: Before (top half of picture) and After (bottom half of picture):
Revenue (Sold House for): $410,000
Expenses (Total $325,000):
- Purchase Price: $250,000 (cash)
- All Renovations: $35,000
- Closing Costs on both ends: $9,500
- Holding Costs for two months including Insurance: $1,500
- Broker Fee: $25,000
@Matt Ten sounds like a great deal! How’d you find it?
I think the numbers speak for themselves! An 85k profit (20% of ARV) is a great profit, especially for a 2 month cosmetic rehab!
Your finishes look stylish and modern. Did you virtually stage the property photos?
Looks great Matt! How did you find and finance it?
The Rehab is beautifully put together. Did you come up with the design or a member of your team put that together ?
@Tommy Adeoye Thanks! I did the design myself. Tried to keep it as simple and clean as possible. I know my limitations. :)
@Alex Alleva found it on MLS and did a lot of negotiating. I see you're in the area too. I'm having a hard time finding anything worthwhile these days...trying to learn more about foreclosure process in anticipation of the next few months. How are you finding good deals these days in Westchester area?
To be honest I haven't really been looking to hard recently. I changed jobs and with covid I am alittle bit nervous myself. I am more focused on buying multi families right now. However looking at you numbers in this area has me thinking I should change direction lol.
Looks great! What town was the property in?