First flip went well and hit our goal with 3 days to spare

[Mark Rogers]

My wife and I closed on the sale of our first flip this afternoon and are pleased with our first effort.  We bought a 3/2 sfr at a courthouse auction for about 124,000 on April 11, had to file suit to evict the former owners, put about 25,000 into the rehab, sold it for 202,000 (98.5% of list price) after 10 days on market, and closed today, June 28.  We probably would have sold it in a day or two, except the uphill neighbor had a busted pipe, flooded our yard, and refused to turn off his water.  We had 9 showings the first two days with a flooded yard.  After accounting for all costs, we cleared about 40,000 for a 24.5% return over a 78 day period.  My goal from the first of the year was to flip our first house for a profit by July 1.  We hit that with 3 days to spare.  Now to meet or exceed our next goals of one more flip and one buy and hold in 2017.   I greatly appreciate BiggerPockets and all of you who share your advice and experience as beginners like us deal with steep learning curves. I LOVE this stuff!

[Christopher B.]

Congrats on your success, keep it going