Stoneham, MA · Member since 2017 · 56 posts · 186 votes
Hi everyone,
My partner and I just completed our FIRST FLIP and we are so excited about it!!! We have both been in construction for nearly 10 years now, and have been talking about trying our hand at our own projects for awhile. Well, we finally took the leap and it was worth it! It was not easy, but we are so glad we did and now we cannot wait for the next one!
$163,000 - Purchase Price
$133,000 - Total Cost (Reno & Operating Expenses)
$17,000 - Commission
$378,000 - Sale Price
$65,000 - Profit
21% - ROI
The project took about 6.5 months. 3 bed, 2 bath 1,400 sq ft single family house outside of Greater Boston. Take a look at the photo's and let me know what you guys think! Also, a big Thank You to everyone who is a part of this great community!
Man I love when the before and after pics are shared on here. You and your partner did an awesome job with the cosmetic finishes...I personally love how inexpensive recessed lighting is and the dramatic difference it makes to a space. Great job and congrats on the ROI!
Congrats! and great job on renovation. Just curious, you are your partners are contractors, but if you were charging $s on that job (if you were a hired contractors), how much would the profit have been (or would there have been a profit)? I'm considering getting into flipping so it would be great to know some stats. Thank you.
Wow Steven! This is a job very well done. The pictures of the before and after are amazing. It seems a lot of work..... but well executed by you and your partner. Thank you for sharing and encouraging someone like me that is new to BP. I will be sharing my story soon too :).
@Steven Rubino WOW looks great!!!!!!!!!!!!! congrats man you guys did an amazing job!!!!!!!!!!!! I will PM you, I would love to see the cost breakdown. Thanks.
Look great! I love to see an old one get brought back to life. I wonder why you did not place the fridge in front of the window (and maybe wall it up there) instead of scrunching it in near the stove. I am sure you have your reasons!!! Great job.
Yes, finish carpentry is expensive isn't it? (I used to do it for a living)
As far as keeping the radiant heat, I would have done that too. There are quality AC units that do not require ducts and, radiant heat is actually more efficient and comfortable than forced air - many people are returning to this type of system - of course you need to check your particular market to see if people care one way or the other.
Great job, I see you did a bit of work yourself, and know the carpentry costs added up to a hefty amount, but curious if you could elaborate a bit more on what exactly added up to 133k in reno and operating expenses budget? I see you have very nice finishe, but given you didn't replace roof, and didn't have to touch electrical or plumbing, what added all the way up to 133?