New Flips begin projects 9/1

[thehebrewhero]

Ok guys I mentioned I just threw my hat in the flipping game here our my projects so far. I'll post my before pics later this week.

Flip 1 4bedroom 2 bath house totally distgusting great neighborhood big house.

Purchase price 75K
Fees 3K
Roof,tile, carpet 5,700
Paint 2,300
Labor Estimate 11,500
MSC 5,000
Comm/fee 7,000
Sale price 140,000
Estimated return 30,500

Flip 2 3Bedroom 1 bath home great starter home progressive neighborhood. Not too badley destroyed just lots of bad hillbilly handyman stuff.

Purchase Price 44K
Fees 3K
Material, roof, tile 1600
Labor/ material estimate 12000 (includes all construction)
Comm/Fees 6150
Sale Price 110,000
Estimated return 43,250

[missmanors]

I'm certainly looking forward to seeing your pics. What is your expected timeline as far as being finished? I see that you are going to be doing the demos yourself, so I'm thinking you are going to be renovating one house at a time?

Did you get estimates on the skilled labor you're contracting out, or are these amounts what you are expecting to pay?

I'm crossing my fingers for you that it all goes as planned and that you make a good profit on each of your flips. Please keep us updated!!

[thehebrewhero]

Originally Posted by missmanors

I'm certainly looking forward to seeing your pics. What is your expected timeline as far as being finished? I see that you are going to be doing the demos yourself, so I'm thinking you are going to be renovating one house at a time?

Did you get estimates on the skilled labor you're contracting out, or are these amounts what you are expecting to pay?

I'm crossing my fingers for you that it all goes as planned and that you make a good profit on each of your flips. Please keep us updated!!

My timeline is 4-6 weeks on the larger house (75K) and 2-3 weeks on the smaller home (44K)
The estimates are from contractors I or my partners have worked with that have a track record of sticking to their bids... I've allready saved a few grand on material as my buddy is a regional manager at a store that sells flooring and roof material. So far I am on good pace. Besides the money I look forward to the artistic aspect of the home. They will be very nice for new familys hopefully they treat them better then the previouse owners

[missmanors]

It sounds like you have everything under control. I wish you well with it all and look forward to hearing a lot more about your projects.

Your timeline seems a bit tight to me, but then I haven't seen the houses or know how much help you will have (I'm used to seeing just a couple of guys working really hard to demo and then a small skilled labor crew to get the electrical/plumbing done - so I'm not doubting you, just hoping you can get it all finished quickly.)

Once again; I wish you good luck!