Very first flip - COMPLETE!

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!

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Peter Fennig

Investor · Fort Wayne, IN · Member since 2013 · 152 posts · 126 votes

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!

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Alia Lysiuk
Investor · West Hollywood, CA · Member since 2017 · 14 posts · 4 votes
8y
Amazing job!! Even with the cosmetic updates, the New England charm is still there.
1 Reply
John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
8y
Looks great. Time to find another flip!
1 Reply
Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
8y
Beautiful renovation. Congratulations!
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1 Reply
Brenda Whittaker
Investor · Cottonwood, AZ · Member since 2015 · 287 posts · 57 votes
8y
Fantastic!! Nothing better than before and after pics! You are a miracle maker. I wish I could do this.
1 Reply
Cartus Aikens
Rental Property Investor · Greensboro, NC · Member since 2017 · 32 posts · 8 votes
8y
CONGRADULATIONS. very inspiring to me.Good job.
2 Reply
Ken NyczajPro Member
Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
8y
@Steven Rubino nice job, best of luck on the next one.
1 Reply
Nichole Ovens
Rental Property Investor · Boulder, CO · Member since 2016 · 55 posts · 23 votes
8y
Did you have to replace roof, redo electrical or plumbing? Any basement mold or other remediation?
The before and afters are outstanding!!! Great job. Come down here to TN and work with us...we are looking at something similar...just not as expensive or high margin.
How did you fund the reno and purchase?
0 Reply
Rachel Siner
Member since 2018 · 1 post · 2 votes
8y
Hello,
I am new to bigger pockets and just wanted to ask if you included to the estimated repair costs I The itinitial loan or did you use your own cash to complete the cosmetic repairs?
It looks super incredible and definitely inspiring!
2 Reply
Jack O'Neil
Member since 2018 · 2 posts · 2 votes
8y
That looks great! Super job and Congrats.
1 Reply
Margarita Ocana
Member since 2018 · 1 post · 1 vote
8y
CONGRATULATIONS!!! :)
This is so encouraging to me! We're saving to do our first. Thank you for sharing..
1 Reply
Andrey Rudenko
Real Estate Agent · Clinton, MA · Member since 2017 · 35 posts · 35 votes
8y
@Steven Rubino Amazing quality and awesome numbers! Any chance you could share what town in mass this is in? Regards, Andre
1 Reply
Account Closed
Atlanta, GA · Member since 2018 · 9 posts · 1 vote
8y
@Steven Rubino wow beautiful work the before and after really show the transformation such a beautiful home
1 Reply
Dorothy Little
Member since 2018 · 1 post · 1 vote
8y
beautiful
1 Reply
Alex Shin
San Antonio, TX · Member since 2018 · 103 posts · 31 votes
8y
@Steven Rubino The reno looks awesome and the numbers look great. Congrats man! I'd also like to ask A question- did yall do all the work yourselves or had to sub any of the work out? Thanks and congrats again!
3 Reply
Annie Baker
Realtor · San Jose, CA · Member since 2018 · 8 posts · 8 votes
8y
Great Job! Love it!! I have the same questions as someone else here...
1. where did you buy it from originally (auction, attorney referral, MLS, Direct seller mailer?)
2. Were the renovation costs what you anticipated or any surprises?
3. Looking back, would you do anything different for your next one?
6 Reply
Rik Patel
Real Estate Agent · Miami, FL · Member since 2018 · 132 posts · 25 votes
8y
Great Job Steven! How did you find a deal like this?
1 Reply
Jane Belmont
Real Estate Agent · Gilbert, AZ · Member since 2017 · 21 posts · 4 votes
8y
Whoa. That looked like a big project. What an amazing job. I love the finishes. Congrats!!
1 Reply
Jessica Reynolds
Oak Park, IL · Member since 2018 · 1 post · 0 votes
8y
Awesome work! Very fresh and modern!
0 Reply
Colin Johnson
Portland, OR · Member since 2018 · 9 posts · 6 votes
8y
What a great example to showcase. It turned out great, congrats!
1 Reply
Janie Potts
Financial Advisor · Athens, GA · Member since 2015 · 6 posts · 0 votes
8y
Awesome job! Looks great!
0 Reply
Jerry Chamnichanh
Buffalo, NY · Member since 2017 · 14 posts · 11 votes
8y
Amazing work! It looks beautiful now.
1 Reply
Lenny Grimes
Rental Property Investor · Lansing, MI · Member since 2017 · 6 posts · 5 votes
8y
Awesome!
1 Reply
Justin Hutchins
Realtor · Panama City, Fl. · Member since 2018 · 60 posts · 27 votes
8y
That place looks amazing, I wish I had the ability to see the potential In somethIng like this. Maybe in time.... 🤔
1 Reply
Rafael Lima de Almeida
Member since 2018 · 1 post · 0 votes
8y
Congratulations on the project.
Very successful.
0 Reply
Chris Kelly
Real Estate Investor · Brookline, MA · Member since 2014 · 8 posts · 5 votes
8y
@Steven Rubino great work on the flip and also getting past the first one.
0 Reply

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