Investor · Marietta, GA · Member since 2014 · 96 posts · 81 votes
I just finished my first flip. The house was purchased off the MLS as a banked owned. Asking price was 119k and I offered 125k cash two weeks closing. They accepted the offer.
Repairs. I am purchased a house flipping spreadsheet to estimate my repair cost, holding expenses and selling fees. I also used this spreadsheet to track my expenses. www.houseflippingspreadsheet.com
I estimated around 24k in repairs plus 20k in real estate selling cost. I replaced all the floors, new kitchen, baths, paint interior and exterior, new doors and trim. I had a contractor paint the exterior. 125k + 24k + 20K = 169k invested.
I am finished with the house and spent 26k in repair cost so I went 2k over budget. The house is listed at 225k with multiply showing every day.
I would like to here your feedback and let me know if you have any questions.
Woodstock, GA · Member since 2018 · 6 posts · 2 votes
8y
I'm having trouble uploading pics. Do you have an email I can send them to? I will also detail the work I need done, in case you want to bid. I close on it next Friday and the realtor is allowing me to have contractors come out on Tuesday, June 26th 11am-12 noon to view and give me estimates.
The address is 5079 Farm Valley drive, Woodstock, GA 30188.
Do you have a good AC contractor to refer? I got a crazy high quote yesterday which was an obvious rip off.
At @Daniel Andrews what came back in the inspection report that caught you? I'm curious about this point, when we buy homes site unseen if it wouldn't be prudent to get an inspection at the beginning of the Reno just to see. I guess there's a solid argument for waiting until the end. Your thoughts?