Share Your Success! Pics, Flips, and $$$

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Share Your Success! Pics, Flips, and $$$

Zachary Gwin

Rental Property Investor · Denver, CO · Member since 2015 · 154 posts · 266 votes

Hey BP!

So this thread is for you to share your success!

I want to show the world ALL the amazing flips/rehabs our members here on BiggerPockets are doing and have done.

Here's what YOU'VE got to do -

Upload Before & After pictures of your projects, give a brief description of the property w/ location and (if possible) provide some basic numbers - Purchase price, Rehab, ARV, Net Profit.

These images may very possibly be shown on the BiggerPockets social media accounts (Facebook, Twitter, Instagram, Pinterest, etc...) So bring your BEST!

Lastly, make sure to Like our FB page and follow our other accounts @biggerpockets !!!

Can't wait to see all these rehabs!

35 Reply

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Most Popular Reply

Kevin Fletcher

Denver, CO · Member since 2013 · 185 posts · 160 votes

10y

Id be happy to share my last deal. I bought a condo in a retirement community for a flip, and the purchase closing which I did with my own Real Estate license was closed on December 18th of 2016. After getting all of my plans approved through the HOA I started the demolition on the 27th of December. I used contractors through the whole process and it was the first flip I have done with out doing any of the actual physical labor myself. I did design and buy all of the finishes and delivered most of them to the job site, but for the first time it was a relatively hands off experience. There were a lot of problems, as there always are but I am really excited with the finished product. I finished the rehab on the 19th of February and I just listed the property on the MLS. This is also will be the first project that I have bought with my license, project managed, designed, funded, and sold by my myself from start to finish.

Below are some numbers on the project and photos.

Condo 2 beds, 2 Baths, 1200sqft.

Purchase Price = $153k $158k- $5k (waived commission)= $158k

REHAB = $28K

HOLDING COST = $3K

LISTING PRICE = $232,900

BUYER COMMISSION/CLOSING COST= $10K

PROJECTED PROFIT = $38,900

BEFORE PICS

AFTER PICS CLICK THE LINK

http://tours.virtuance.com/471780

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Mark Anderson
Knoxville, TN · Member since 2016 · 6 posts · 4 votes
9y
Purchased a 3/2 from volume builder for 100,000.

Listed at 138,000

Sold for 135,000

Didn't touch or add anything. Sold in 2 months.
1 Reply
Audrey Ezeh
Real Estate Investor · Las Cruces, NM · Member since 2016 · 186 posts · 173 votes
9y
Nicely done!
0 Reply
Natalie KolodijBusiness Member
Moderator
Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
9y
Sorry for the super bad photos-I had it sold before I even started renovations so I didn't take superb photos for posting or any thing. This is the trailer where I had to fire my "contractor" 2 weeks in for some MAJOR screw ups so all the flooring, painting, fixture swaps, and drywall I did myself. -.- Not a HUGE profit but but 8k isn't too bad for the $50 purchase,
This is the second manufactured home I flipped.
Purchase Price $50
Holding & Title Costs= $1,350
Renovations= $2,500
Sale Price = $11,900
Profit= $8,000

Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
Kolodij Tax & Consulting
Website View Page
2 Reply
Audrey Ezeh
Real Estate Investor · Las Cruces, NM · Member since 2016 · 186 posts · 173 votes
9y
@Natalie Kolodij I guess the obvious question is how did you acquire the property for $50? Nicely done by the way :)
0 Reply
Natalie KolodijBusiness Member
Moderator
Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
9y
Originally posted by @Audrey Ezeh:

@Natalie Kolodij I guess the obvious question is how did you acquire the property for $50? Nicely done by the way :)
That's the best part about mobiles- they're a hindrance to a lot of people. In this case her mom had passed several months earlier and she'd been paying the $460/month for a trailer that wasn't reallyyyy livable in it's current state. She just wanted it gone. She posted it for Free on CL and I offered $50 to make it a legit contract and to pay the rent that was due (she posted it on like..the 4th of the month)
Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
Kolodij Tax & Consulting
Website View Page
0 Reply
Audrey Ezeh
Real Estate Investor · Las Cruces, NM · Member since 2016 · 186 posts · 173 votes
9y
Wow nice job :)
1 Reply
Natalie KolodijBusiness Member
Moderator
Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
9y
@Hasnain Ali

This is a specific thread for posting photos and deal details on properties you've flipped.
You may want to delete your post and relocate it to the introductions section.

Good luck!
Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
Kolodij Tax & Consulting
Website View Page
1 Reply
Rami Shahmram
Fort Lauderdale , FL · Member since 2016 · 21 posts · 11 votes
9y
Originally posted by @Kevin Fletcher:

Id be happy to share my last deal. I bought a condo in a retirement community for a flip, and the purchase closing which I did with my own Real Estate license was closed on December 18th of 2016. After getting all of my plans approved through the HOA I started the demolition on the 27th of December. I used contractors through the whole process and it was the first flip I have done with out doing any of the actual physical labor myself. I did design and buy all of the finishes and delivered most of them to the job site, but for the first time it was a relatively hands off experience. There were a lot of problems, as there always are but I am really excited with the finished product. I finished the rehab on the 19th of February and I just listed the property on the MLS. This is also will be the first project that I have bought with my license, project managed, designed, funded, and sold by my myself from start to finish.
Below are some numbers on the project and photos.
Condo 2 beds, 2 Baths, 1200sqft.
Purchase Price = $153k $158k- $5k (waived commission)= $158k
REHAB = $28K
HOLDING COST = $3K
LISTING PRICE = $232,900
BUYER COMMISSION/CLOSING COST= $10K
PROJECTED PROFIT = $38,900
BEFORE PICS
AFTER PICS CLICK THE LINK
http://tours.virtuance.com/471780
wow!
0 Reply
Carl Aumoithe
Rental Property Investor · Stuart, FL · Member since 2016 · 4 posts · 1 vote
9y
Originally posted by @Mark Ferguson:

I sold a flip last Friday. It was a doozy! I bought it in April of 2014 and yes it did not sell until February of 2016 and no it was not rented. Had huge problems with contractors and I didn't get started working on it for months because I had too many flips going.
Bought it for $75,000
Repairs were about $70,000
Carrying costs about $5,700
Financing costs about $7,000
Selling costs about $8,000
Commission saved -$2,200 (since I am an agent and got paid a commission when buying)
Seller paid closing costs $2,000
Selling price $220,000
Profit about $50,000
Am I allowed to post before and after videos?
https://www.youtube.com/watch?v=FnFtorEyG78&index=...
https://www.youtube.com/watch?v=O1K2m7SxzlY&index=...
Hey Mark, so how much money did you personally put into this investment ?
0 Reply
Mark Ferguson
Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
9y
I had a 25 percent loan to start with, but eventually I had to pay that off because it was a short term loan. I got a nice chrck when it sold since I had no loan on it!
Right now I have 17 flips lol.
0 Reply
Yia Her
Real Estate Investor · Sacramento, CA · Member since 2016 · 96 posts · 26 votes
9y
Most current flip just hit the market. 3 days on market on new years eve and went pending today with more people calling to see if still available. Highest priced in the neighborhood and got over asking. Excited to start the new year out with BANG!
3 Reply
Vickiel Woodard
Investor · England, AR · Member since 2015 · 53 posts · 20 votes
9y
I was able to contact an absentee owner by using Facebook. My very first letter campaign got no answer. i followed up with a second letter and did a search on Facebook just using the info from county record. The owners are very motivated to sell. Thanks BP and I've learned a lot listening to the podcast on my morning commute.
1 Reply
Kai Kopsch
Real Estate Broker · Charlotte, NC · Member since 2016 · 569 posts · 351 votes
9y
Congrats more blessings to come..
0 Reply
Brice Hancock
Real Estate Agent · Denver, CO · Member since 2017 · 5 posts · 4 votes
9y
This started in December of 2015. I bought this 4 bed, 3ba in Parker, CO for $320,000 from a seller who was depressed and stressed out and just wanted to get out. I think I put 25% down. She was a hoarder and had pets so it smelled bad but was still in pretty good shape. I painted, recarpeted, refinished and stained hardwood floors, put in granite counters and retiled bathrooms. I put in a free standing glass shower in the master bath and that all ran about $25k. I sold it in February of 2016 for $410,000 and that was a cash deal. I think after fees I made about $50,000. It was my first flip and I was nervous. I ran up a Home Depot card pretty high to pay for the materials and appliances.
BEFORE:
AFTER:
http://www.zillow.com/homedetails/11700-Pine-Hill-...
2 Reply
Sergio Caban
Commercial Real Estate Broker · Little Falls, NJ · Member since 2016 · 8 posts · 0 votes
9y
If anyone needs funding for their next flip I would be glad to help. Lets connect.
0 Reply
Jared Cauffield
Rental Property Investor · Columbus, OH · Member since 2017 · 42 posts · 16 votes
9y
I did this flip a couple of years ago and just got around to making a nice before and after slideshow on it. Here are the details:
Purchase Price: $130,000.00
Renovation Cost: $76,000.00
Holding Cost: $11,000.00
Duration: 5 months
Sale Price: $267,500.00
Total Profit: $50,500.00
I am curious, do any of you find this slideshow interesting? I would love to hear feedback and comments.
1 Reply
Chasity Jones
Orlando, FL · Member since 2017 · 7 posts · 4 votes
9y
There is some REAL talent here!! These flips look BEAUTIFUL!!!!!
0 Reply
Ken Wang
Rental Property Investor · Laurel, MD · Member since 2017 · 176 posts · 37 votes
9y
@Kevin Fletcher nice job!!
0 Reply
Dan Jaeger
Flipper/Rehabber · Naperville, IL · Member since 2016 · 13 posts · 10 votes
9y
My wife and I bought our first foreclosure to fix and flip in December 2016. The house is located in the western suburbs of Chicago. The renovation took 10 weeks. We received five offers above asking price the first weekend the house was on the market. A big thank you to the Bigger Pockets community and the podcasts for keeping us motivated and to our real estate broker and general contractor for a job well done!
Before Pics:
After Pics:
2 Reply
Rami Shahmram
Fort Lauderdale , FL · Member since 2016 · 21 posts · 11 votes
9y
We purchased an REO property for $201,000 after the bank asked $273,000 (I Guess it is true the saying "in real estate you make money when you buy").
The house had close to $400,000 in code violations and municipality liens. We negotiated with the city and eventually ended up paying around $4,000 only. We had to put close to $70,000 in rehab costs, holding costs etc.
After 5 months we were able to sell the house for $346,000 OFF MARKET.
Couple of weeks before the renovation was done, we decided to put a FSBO sign in the front yard.
Since the house had great curb appeal, we got lots of attraction and many showings.
We made a profit of almost $75,000 on this deal.
Another great success story!
May all investments will be the same as this one...
2 Reply
Cindy Veit
Flipper and Buy/Hold · Cary, NC · Member since 2014 · 45 posts · 39 votes
9y
Here is a recent flip I did in Stedman, NC (near Fayetteville, NC). The house was in really good condition to begin with. We just opened up the floor plan by changing the configuration of the kitchen. The house sold in 4 days. The rehab budget was $20,000 (paint, carpet, flooring, vanities, cabinets and counters). I bought the house for $81,000. I sold it for $142,000. Minus the realtor fees and concessions, I made about $25,000.
I am always looking for more deal sources!
2 Reply
David Farrar
Investor · Las Vegas, NV · Member since 2017 · 11 posts · 1 vote
9y
Originally posted by @Kevin Fletcher:

Id be happy to share my last deal. I bought a condo in a retirement community for a flip, and the purchase closing which I did with my own Real Estate license was closed on December 18th of 2016. After getting all of my plans approved through the HOA I started the demolition on the 27th of December. I used contractors through the whole process and it was the first flip I have done with out doing any of the actual physical labor myself. I did design and buy all of the finishes and delivered most of them to the job site, but for the first time it was a relatively hands off experience. There were a lot of problems, as there always are but I am really excited with the finished product. I finished the rehab on the 19th of February and I just listed the property on the MLS. This is also will be the first project that I have bought with my license, project managed, designed, funded, and sold by my myself from start to finish.
Below are some numbers on the project and photos.
Condo 2 beds, 2 Baths, 1200sqft.
Purchase Price = $153k $158k- $5k (waived commission)= $158k
REHAB = $28K
HOLDING COST = $3K
LISTING PRICE = $232,900
BUYER COMMISSION/CLOSING COST= $10K
PROJECTED PROFIT = $38,900
BEFORE PICS
AFTER PICS CLICK THE LINK
http://tours.virtuance.com/471780
0 Reply
David Farrar
Investor · Las Vegas, NV · Member since 2017 · 11 posts · 1 vote
9y
Added value and elegance to the community great first flip.
0 Reply
Zachary Gwin
OP
Rental Property Investor · Denver, CO · Member since 2015 · 154 posts · 266 votes
9y
@Dan Jaeger
Do you happen to know the numbers on this flip?! Would love to feature it on our Facebook/ Instagram account!
1 Reply
Jonathan Soto
Lender · Newark, NJ · Member since 2016 · 695 posts · 252 votes
9y
All of these are awesome flips and provided me good details for when I perform my first flip this summer using a 203k loan.
2 Reply

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