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!

20Reply
96 views

Most Popular Reply

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!

See this reply in the discussion

52 Replies

Jump to latestLatest
  • Oakland CA · Member since 2019 · 9 posts · 0 votes
    7y

    Wow, that is really good!

  • Rental Property Investor · Palm Springs, CA · Member since 2018 · 2 posts · 0 votes
    7y

    Nicely done on the rehab - Before/after pictures look amazing! Time to hustle on for #3 and then #30 soon after!

  • Rental Property Investor · South Bend, IN · Member since 2019 · 35 posts · 7 votes
    7y

    @Steven Rubino, wow! Awesome job! I also really needed that encouragement to do a BRRRR. Although there are many "safety" features in a BRRRR, there are also many factors that can change the deal. Thank you for sharing!

  • Christi HawkinsPro Member
    Columbus, OH · Member since 2017 · 237 posts · 142 votes
    7y

    Congratulations! It's beautiful

  • Member since 2019 · 4 posts · 0 votes
    7y

    Wow looks great!!!

  • Realtor · Moorestown, NJ · Member since 2019 · 86 posts · 24 votes
    7y

    @Steven Rubino

    Looks Great Steven,

    Like the rest of the newbies here I hope I can have successful outcomes with my future endeavors like you had in this property. I am curious about the Reno budget and I’m sure it varies by location but it just seems high for the work you have shown and what you described. I have been seeing it with a lot of the recent posts from investors and I think to myself that is what a homeowner would pay if they called joe blows contracting and wanted the work done. I would like to hear from everyone else on the topic but I would love to see the itemized breakdown for material vs costs. That would really help me to understand so I know how to proceed. Renovation aside great work! Great return! Keep it up!

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

    @Timothy Lewman nothing else under contract yet, but we are always looking. 

    Let’s check in a day or two before the next Black Diamond event, and we can meet up there and connect!

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

    @Griffin Thomas Yes the cabinets we re-painted, the countertops however are new. We replaced the laminate with granite. 

    The biggest issue we found would probably be the first floor bathroom - it had a walk in shower but was not done correctly, all the pipes had froze the previous winter. We had to get rid of the shower and make it just a half bath, which ideally you’d never want to decrease your number of bathrooms but after studying it for awhile there was really no way to properly get it working again without spending a ton. Fortunately it all worked out!

  • Rental Property Investor · Hollis, NH · Member since 2017 · 108 posts · 67 votes
    7y

    @Steven Rubino Congratulations, the pictures look great

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

    @Johnny Tran The house was purchased in cash through HELOC's on our primary residences. The rehab was funded by a private investor (family member)

  • Tampa FL · Member since 2019 · 5 posts · 1 vote
    7y
    Originally posted by @Steven Rubino:

    @Johnny Tran The house was purchased in cash through HELOC's on our primary residences. The rehab was funded by a private investor (family member)

    Thanks for sharing. Great to see all the moving parts laid out.

  • Member since 2019 · 21 posts · 7 votes
    7y

    @Steven Rubino

    Good job brother, you are best !!!

    Keep up the good work 😉

  • Rental Property Investor · Brooklyn, NY · Member since 2013 · 272 posts · 165 votes
    7y

    "Mazel Tov"  as they say!   Nice work!   

    How long did it take from start to finish, if you don't mind my asking?

  • Greenville, SC · Member since 2018 · 45 posts · 17 votes
    7y

    @Steven Rubino Looks Great! Thanks for sharing.

  • David RobertsonBusiness Member
    Flipper/Rehabber · Kansas City, MO · Member since 2010 · 755 posts · 778 votes
    7y

    Turned out great!  👏

    It's amazing how painting the walls & trim and the new hardwood floors completely transforms the space!  

    Looks like you will make a very nice profit too!

    FlipperForce
  • Pensacola, FL · Member since 2017 · 163 posts · 312 votes
    7y
    Originally posted by @Steven Rubino:

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

     How did you feel that turned out quality wise?  Are they chipping?  We painted windows in our first flip and it was okay.  Not great, but better than the original.  The cost of windows in a hurricane zone is just so expensive.  Wondering if your contractor had any tricks of the trade or specific paint that worked well.  

  • Rental Property Investor · Kansas City, MO · Member since 2019 · 14 posts · 11 votes
    7y

    @Steven Rubino looks great. Good job

  • David RobertsonBusiness Member
    Flipper/Rehabber · Kansas City, MO · Member since 2010 · 755 posts · 778 votes
    7y

    By my tally that's $65,000 in profit on your first flip and $57,000 on your second.  Sounds like you've found a profitable niche in your market!  

    Who says you can't find deals on the MLS anymore?!

    FlipperForce
  • Specialist · Member since 2018 · 124 posts · 64 votes
    7y

    @Steven Rubino congratulations!!!!! Keep it up. Cheering you on.

  • Specialist · Tampa, FL · Member since 2019 · 8 posts · 8 votes
    7y

    @Steven Rubino wow! You all did an amazing job!!!

  • Real Estate Agent · Salt Lake City, UT · Member since 2019 · 29 posts · 13 votes
    7y

    Amazing job!  I like the staging you did also. Is that your own furniture or did you hire a company to stage it for you?  What was the hardest part of this deal?

  • Wholesaler · Philadelphia, PA · Member since 2016 · 124 posts · 81 votes
    7y

    @Steven Rubino

    Great job!

    Did you get your asking price or is that the negotiated sale price? And how long was the house on the market before it sold?

  • Flipper/Rehabber · Member since 2018 · 3 posts · 0 votes
    7y

    @Steven Rubino

    Great job! Keep killing it, love the simple yet stylish design!

    Seby Rubino

  • Rental Property Investor · Chubbuck, ID · Member since 2018 · 532 posts · 466 votes
    7y

    Nice job! Just have to ask what the snow shovel was for? Congrats!

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

    @Michael G. good question! I forgot to mention it took about 6 months from closing to closing

Join the conversationCreate a free account to reply, vote on answers and follow this thread.