First Flip: Craftsman Home in SoCal

[Drew Nagda]

I moved to from NYC to Southern California in March 2016 with the goal of going all-in into real estate investing. The BP community & forums has been critical to my learning curve and was a lot of fun taking the inspiration of the podcast and putting it towards my flip.

I found the house on the MLS (!!!) in August and the overall project took 10 weeks to complete.

There are deals you can find on the MLS, it's all about fine combing through the listings on a regular basis.

Costs

Bought property for: $287,000 (asking price was $278,000)

Estimated: $50,000

Actual: $61,000

Total invested= $348,000

Closing costs = approx. $25,000

*** The open house is this weekend for $425,000.

Projected Profit: approx. $50,000 

**** After Video: https://vimeo.com/192682664

Here are the Before images:

Back of House

Before Staircase

Before Bedroom

Before Kitchen

Main Bathroom

Before Backyard

I'll keep this thread updated with the eventual selling price. Cheers!

[Steve Weber]

It takes courage to make such a big move and start fresh. I am getting ready to do the same thing going from VA to Florida so I respect what you're doing. Best of luck with getting your business going