Cape Coral, FL · Member since 2008 · 469 posts · 32 votes
10y
Please tell me you're sharing this because it's an EXCEPTIONALLY great deal, because I'm in the same area just starting out and if that's a standard deal I've got a long road ahead of me. Great job either way. Tell me, would you have taken that if you could only have gotten it for no less than 85k? Because I'm thinking I would. I'm thinking it will be a tough sell above 150k tho. What kind of countertops in the kitchen & baths? What's the s/f'age? What year was it built? Nice find!
I haven't had to do siding on any of my flips yet, but I'm curious how you estimate it?
Scot,
Great question. I was a little fuzzy on this going in. Fortunately I have a very good friend in the business who was able to educate me some. 6-7 dollars per sq foot should be a safe estimate. For me that includes demo of old siding, vapor barrier, etc.
Obviously there are many things that affect price including type of siding, two stories ? Number of openings, cuts, etc, but that should give you a rough estimate.
Please tell me you're sharing this because it's an EXCEPTIONALLY great deal, because I'm in the same area just starting out and if that's a standard deal I've got a long road ahead of me. Great job either way. Tell me, would you have taken that if you could only have gotten it for no less than 85k? Because I'm thinking I would. I'm thinking it will be a tough sell above 150k tho. What kind of countertops in the kitchen & baths? What's the s/f'age? What year was it built? Nice find!
Benjamin! Glad to hear you're getting started. Let me know if there's anything I can do to help. I would say this was an exceptionally great deal, however I really only like putting my money into exceptionally great deals. =) I may have paid $75, but $85 would have been a stretch. This house was very bad off. Quite frankly it was a borderline tear down.
Its granite countertops in the kitchen. 1200 Sq. Feet. built in 1989. I definitely swung for the fences with the asking price, but we will aggressively lower the price. I think we will end up seeing a sales price of around 150K.
6 months ago you may have been correct, but there is nothing active under $150K in the SW Cape. You may find some properties in the NW Cape but even then it's tough sledding for under $150K.
Challenge accepted, 426 sw 44th ter :)
Looking at this in more detail I think you are on target though, should be a fat, well deserved paycheck.
Is that really a comp to the OP's property. It's a 2BDR built 15 years earlier. Original windows and floor plan. Good rental maybe, but not a stand out.
Brooksville, FL · Member since 2012 · 429 posts · 220 votes
10y
@Account Closed
No it isn't. I was just teasing him when he said i couldn't find anything at all. His flip is nice, makes complete sense to my eyes and odds are in a month or less he will find himself under contract.