First Flip to Sell- Closed and Ready for Reno!
Just closed on my first flip with the intent to sell! All of our other renovations have been the BRRR strategy. This lead came to us from a friend that saw my "We buy houses" ad on fb and referred us to the seller. This home recently flooded and had about 7 inches of water inside. The numbers break down like this.
Home is a 3 bed 2 bath, 1,750 sqft
Purchase price: $65,000
Estimated reno costs: $40,000
ARV: $170,000. After commission and buyer's closing costs we are hoping for a net of $160,000.
I partnered up with a contractor on this deal 70/30. I found the deal, funded the deal and the contractor will handle the entire renovation. Let me know your thoughts! Thanks!