Flip in Lafayette, LA
We just sold our most recent flip right before Christmas and here is my breakdown of how it all went down. The property we purchased, located at 109 Charles Read Ave Lafayette, LA, was on the market for 40 days before we made our offer. The home was listed at $190,000 and we offered $160,000 cash and close in 2 weeks. The sellers just so happened to receive another offer at the same time that was higher but the offer was a financed offer. We wrote the sellers a letter about our background and our plans for the house and I think that helped tipped things in our favor. They ended up accepting our offer 15 minutes before the expiration.
We ended doing a full gut and adding on a master bath.
After 6 months of renovating, we finally listed it on the market Dec 6th for $385,000. The home turned out to be 2,300 sqft and 4 bedrooms with 2 baths. We had 7 showings in the first day and 3 offers above asking price. We accepted an offer for $396,600 and closed Dec 21st!
Can't wait for the next one!
Nice finishes! Cost of rehab?
We ended up being around $160,000 for cost of rehab
That’s amazing! High risk, high reward! Design of the home is gorgeous. Job well done!
@Stephen Hundley That is gorgeous work! Do you rehab with a crew or diy?
Originally posted by @Suzette T.:@Stephen Hundley That is gorgeous work! Do you rehab with a crew or diy?
Definitely a crew. I don’t do any of the work myself haha. I leave that to the professionals.
Wow! Absolutely beautiful transformation, and amazing profit. Congratulations!
Looks great Stephen, well done!