Second Flip - DONE! With Before & After Pics!

Second Flip - DONE! With Before & After Pics!

Stoneham, MA · Member since 2017 · 56 posts · 186 votes

Hi Everyone!

So my partner and I just completed our second flip! (I posted about the first here: https://www.biggerpockets.com/forums/223/topics/617056-very-first-flip-complete )

Another single family house in the suburbs outside of Boston. 3 beds 1.5 baths 1,900 sqft. I have to say - the second one (for a few different reasons) was much much easier. Mostly due to this one being a little less scope, hiring better contractors, and of course the experience of having one under the belt.

Take a look at the pictures and let me know what you guys think!

And if you're reading this and have ever felt discouraged - DON'T GIVE UP! Your deal will come! It took my partner and I months & months of searching & getting rejected before we finally found this deal. If you're looking for a sign to keep going - this is your sign!!!

And of course - Thank You to everyone who participates in this awesome community! I can't tell you all how helpful these forums have been to me as a resource, so thank you all for contributing!

Purchase Price: $177,000 (was listed on MLS)

Rehab: $95,000

Sale Price: $344,500

Commission (4.5%): $15,500

Profit: $57,500

ROI: 21%

If anyone has any questions feel free to ask!

And if there are any wholesalers reading this in the MA/NH area - send me a message! Let's connect!

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Auburn, MA · Member since 2018 · 4 posts · 8 votes
7y

@Steven Rubino This looks incredible, Great Job!  My Partner and I are searching (and searching and searching) for our first.  Your post has inspired me once again and reminded me not to give up!  I checked out the link to your first flip, that too looks great!  Congrats and Keep up the Great Work!

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  • Investor · Jasper GA · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    Great job

  • Sunnyvale, CA · Member since 2018 · 191 posts · 178 votes
    7y

    @Steven Rubino awesome job. My only question is how are the schools out there?

  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    7y

    Looks great!

  • Rental Property Investor · Richmond, VA · Member since 2016 · 279 posts · 133 votes
    7y

    @Steven Rubino any structural issues/changes or mostly cosmetic?

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @Steven Ko the school system is pretty good. Funny you ask because the house is actually directly across the street from the high school. The previous owner was the school nurse and used to walk to work!

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @Will C. it was mostly cosmetic. The only structural scope was we put 7 new lally columns in the basement and sistered one beam that was cracked

  • Member since 2018 · 10 posts · 9 votes
    7y

    Very nice work!  Looks like a completely different place! 

  • Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    7y

    Hi Steven,

    The wall color and the floor color really seem to go well together. What colors are they?

    Scott...

  • Sunnyvale, CA · Member since 2018 · 191 posts · 178 votes
    7y

    Crazy. My first house I just closed on the middle on the month is directly across the street too :) the only reason why I asked was because the Boston Area like a nice place to move too. Connecting now for the future. 

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @Scott Mac the paint color was Ben Moore “Smoke” 2122-40 and the flooring was “Dream Home Ridgeback Walnut” from Lumber Liquidators. 

  • Investor · Glen Burnie, MD · Member since 2019 · 51 posts · 26 votes
    7y

    @Steven Rubino those ceilings are amazing! Well done!!

  • Pensacola, FL · Member since 2017 · 163 posts · 312 votes
    7y

    @Steven Rubino, nice job and nice find for you and your partner on this property. Can I ask how much your window expense was and how many windows you replaced?  

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @Benjamin Ervin we actually did not replace any of the windows... we were lucky. Just painted them (jambs & rails)

  • Investor · Keller, TX · Member since 2019 · 76 posts · 62 votes
    7y

    Hey Steven,  with these flips are you able to salvage any money from some of the appliances, such as sell them on offerup or craigslist,  or is everything in the house thrown out?

  • Flipper/Rehabber · Worcester, MA · Member since 2016 · 179 posts · 113 votes
    7y

    @Steven Rubino I'm currently on my second flip. 1st house was in Holden had serious cost over runs, made a little bit of money and learned a lot. Current one is in Leominster - total gut job. Hoping to have it listed in November. What REIAs so you attend? I got to Black Diamond Worcester, Metrowest in Framingham and NE in Chelmsford.

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @John B. well the seller took the washer & dryer with them, the fridge we just donated to the Salvation Army, but the oven we got $50 for on Craigslist! haha

  • San Antonio, TX · Member since 2019 · 930 posts · 836 votes
    7y

    Well done!  It looks great!

  • Stoneham, MA · Member since 2017 · 56 posts · 186 votes
    7y

    @Timothy Lewman so far I’ve only been attending two: TBI Networking Event and The Boston Real Estate Guild.

    I’ve heard about Black Diamond from a few people now, I think I’ll drop by the next one...

    Congrats on your flips!

  • Flipper/Rehabber · Worcester, MA · Member since 2016 · 179 posts · 113 votes
    7y

    @Steven Rubino see ya there, it's a great meeting, say hi if you see me. I like talking to relatively new investors; I think we learn a lot from each other.

    What's your plan now? Do you another property under contract or still looking?

  • Auburn, MA · Member since 2018 · 4 posts · 8 votes
    7y

    @Steven Rubino This looks incredible, Great Job!  My Partner and I are searching (and searching and searching) for our first.  Your post has inspired me once again and reminded me not to give up!  I checked out the link to your first flip, that too looks great!  Congrats and Keep up the Great Work!

  • West Lebanon, NH · Member since 2017 · 21 posts · 6 votes
    7y

    @Steven Rubino the ceilings came out awesome!

    It looks like you were able to just paint the cabinets and keep the countertops?

    What was the biggest unexpected issue you had?

  • Flipper/Rehabber · Tampa Bay, FL · Member since 2019 · 5 posts · 0 votes
    7y

    @Steven Rubino

    Looks awesome! How long did it take to find a deal?

  • Tampa FL · Member since 2019 · 5 posts · 1 vote
    7y

    @Steven Rubino the house came out great, Congratulations! I enjoy reading and seeing the success of others, especially being a new investor myself.

    Would you be willing to share how you funded the purchase and the rehab project?

    thanks & again congrats!

    ~ Johnny

  • Martin LewisPro Member
    Rental Property Investor · Bedford, MA · Member since 2018 · 10 posts · 4 votes
    7y

    @Steven Rubino I am in the MA area. Looking to do some wholesales and flips. Let’s connect. Thanks

    All the Best

    Martin

  • Member since 2018 · 10 posts · 1 vote
    7y

    @Steven Rubino great job! Congratulations!

    BTW, I’m in MA and wholesaling . I’m new

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