Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
My team and I sold our first flip today!
Started diving head first into real estate in the beginning of 2018 and haven't slowed down since. We found this deal from a DM Campaign. After a few campaigns with no results, one in May finally stuck. Biggerpockets has been an incredible source of information and this wouldn't have happened without the community.
Front view: (Packed the Prius full)
Rear: (Bay Grasses turned out great)
Kitchen:
Master Bath:
Roof:
Here's about 3300 letters that I proudly lick!
Numbers:
Purchase- $108,000
Rehab- $70,000
Holding- $3,200
Sold Price- $288,000
Profit about 27% off of sold price.
Thank you to all who helped me throughout the Journey, greatly appreciated. Now we are looking to put our 2nd and 3rd property under contract this month. Possibly even a fourth if I have any funds left! If you're in the Annapolis area, reach out anytime- I'm definitely looking to get some sort of master mind group together to bounce ideas off of!
@Ken Nyczaj
Now that’s one heck of a margin! Congrats Ken, all the way from Miami!
Glad to see that I’m not the only Prius owner involved with real estate investing haha.
@Ken Nyczaj congrats!
The style that you have in the kitchen and bathroom is what I am aiming for.
What flooring did you choose for the kitchen?
Also, why did you go with that choice?
Congrats again man!
@Blair Poelman thanks Blair.. That’s what we aimed to do in the flip, add features that didn’t cost much but brought value up significantly by adding in upgraded finishes. The girl who bought the house was just looking for a home she didn’t need to touch for 30 years, and was sold on the upgraded features. Similar homes in the area were for $260k -$280k but didn’t
Good job on the flip. I have seen many opportunistic/value add properties in Naptown. I am over in Howard County. We will have to grab lunch one day on Main Street, or perhaps go sailing out of Eastport. Let me know if you are looking to tackle some commercial properties out there.
awesome job. Glad you kept at it and now are on a roll. I well like to move over to flip a home on my next property. Keep pushing and providing us updates
@adam We are up to 3300 every 8 weeks. To make it simple- for every 1,000 letters we send maybe 5 phone calls, which leads to 1-2 house visits leading to sometimes 0 or this 1 deal. You can imagine our conversion rate is very low. Our call back rate is also low. But after doing this for 9 months now, leads from months back are starting to look promising. Plus referrals from people I’ve met just talking about real estate is happening. So important to tell everyone and anyone about what you do as a real estate investor.
@Adam M. We are up to 3300 every 8 weeks. To make it simple- for every 1,000 letters we send maybe 5 phone calls, which leads to 1-2 house visits leading to sometimes 0 or this 1 deal. You can imagine our conversion rate is very low. Our call back rate is also low. But after doing this for 9 months now, leads from months back are starting to look promising. Plus referrals from people I’ve met just talking about real estate is happening. So important to tell everyone and anyone about what you do as a real estate investor
@Tara G. we kept the doors and just painted everything on the cabinets besides the inside. The vanity was purchased from Home Depot. Thank you for the response.