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!
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!
Hey Steven! It's very cool to have heard your story a couple weeks ago at Justin's REI meetup and now see you highlighted in BP's success stories. Congratulations! Your before & after pictures look excellent.
Lovely! I do have 1 question. You said that it took 6 months. Was that just working on it part time (I know you did a lot yourselves) and do you think that your holding expenses cut into your profit much?