Updated over 8 years ago on . Most recent reply
First Flip: Owner-Occupied
Hey Guys,
Just wanted to share that I have officially completed my first flip! I did so by living in it as an owner occupant with a FHA loan. Started out with $3,000 and paid for the improvements over about two years with each paycheck. Purchase price was $93,900 with a $21,000 rehab. Property was sold for 169,900 in four days with no closing assistance! That left me with a profit of about $55,000, which has been dumped into the next investment! Many thanks to BP for tons of good information and advice!