Joliet, IL 路 Member since 2016 路 119 posts 路 88 votes
I just completed my FIRST FLIP! The rehab took approximately 3 陆 weeks. The home is a 2bd, 1ba townhouse that is slightly over 1000sq ft located in Illinois.
Numbers:
Purchase Price with closing cost: $55,290.25
Rehab Cost: $28,815.60
Total in: $84,105.85
Holding cost: Roughly $450 a month (insurance, HOA fees, utilities, & taxes)
ARV: $115,000
Estimated Profit: $29,094.15
The property just went onto the market today. Here are the before and after photos!
Vendor 路 San Diego, CA 路 Member since 2016 路 55 posts 路 16 votes
9y
Amazing work! One suggestion I would throw out there is to hire a real estate photographer for around $100 to photograph the whole house. I use them for my airbnb listings and there is a tangible increase in price with professional photos vs iPhone pictures. The wine bottle was a great touch, definitely use it again!
Rental Property Investor 路 New Castle, DE 路 Member since 2016 路 376 posts 路 158 votes
9y
Your 1st flip looks GAAAAWWWWJUS!!! Many congrats to you for stepping out on faith. I want to be just like you when I get younger again :) Looking forward to hearing more about your success!
Investor 路 Kontich, Vlaanderen 路 Member since 2015 路 5 posts 路 1 vote
9y
Impressive rehab time! Agree with Shray Goel, a professional photographer might bring a big added value. For the next flip, you could consider a lighter floor (and ceiling). It'll give the impression that the rooms are higher. :)