2nd Flip: Feedback Requested on Design and Numbers

2nd Flip: Feedback Requested on Design and Numbers

Tarrytown, NY · Member since 2019 · 32 posts · 1 vote

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):

Deal Details:

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

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  • Investor · Atlanta, GA · Member since 2020 · 253 posts · 240 votes
    5y

    @Matt Ten sounds like a great deal! How’d you find it?

  • David RobertsonBusiness Member
    Flipper/Rehabber · Kansas City, MO · Member since 2010 · 755 posts · 778 votes
    5y

    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?

    FlipperForce
  • Alex AllevaPro Member
    Rental Property Investor · Mamaroneck, NY · Member since 2017 · 24 posts · 5 votes
    5y

    Looks great Matt! How did you find and finance it?

  • Tommy AdeoyePro Member
    Investor · Member since 2020 · 164 posts · 87 votes
    5y

    The Rehab is beautifully put together. Did you come up with the design or a member of your team put that together ?

  • Tarrytown, NY · Member since 2019 · 32 posts · 1 vote
    5y

    @Duane Alexander Actually the MLS and some heavy negotiation :)

    @David Robertson Thanks!Yes only virtual staging.

  • Tarrytown, NY · Member since 2019 · 32 posts · 1 vote
    5y

    @Tommy Adeoye Thanks! I did the design myself. Tried to keep it as simple and clean as possible. I know my limitations. :)

  • Tarrytown, NY · Member since 2019 · 32 posts · 1 vote
    5y

    @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?

  • Alex AllevaPro Member
    Rental Property Investor · Mamaroneck, NY · Member since 2017 · 24 posts · 5 votes
    5y

    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.

  • Real Estate Agent · Westchester County, NY · Member since 2017 · 16 posts · 2 votes
    5y

    Looks great! What town was the property in? 

  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    5y

    nice work!

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