Search
  • Sean

Stratford Flip Analysis

If you've been following our social media, then you've seen some progress pictures and updates of our multiple flips in progress #StratfordFlip and #EdgewoodFlip. Though they won't hit the market until February, I wanted to share some flip analysis, timeline and updates on the #StratfordFlip.


First of all, we teamed up with a fellow investor/flipper looking gain experience while bringing equity. The deal is in Hampton, VA and came from an assignment of contract (wholesale deal).



Analysis:

Purchase: $75,000

Purchase Costs: $7,500

Holding Costs: $5,400

Rehab: $45,000

Sale Costs: $18,700


ARV: $170,000

Potential Profit: $20,000


ARV:

- Look at sold homes on Zillow/Refin within the past 6 months

- Get a CMA from a licensed Agent

Rehab:

- Some rough numbers we use for initial analysis

*$25/sqft: light rehab -paint, carpet, fixtures

*$35/sqft: medium rehab -Above + cabinets, landscaping, roof, baths, some drywall

*$45/sqft: heavy rehab -Above+ systems (HVAC, water heater), roof, all walls, trim

- During due diligence, walk the property with a GC/subs to get an accurate quote

Progress:

Demo





Framing:



As always there are problems, we ran into some floor leveler between rooms (there used to be a wall). So, in order to have hardwoods throughout, we used some from the new master to fill in... the master will get carpet.




This week is Drywall, Bathroom Tile, and Exterior!

83 views0 comments

Recent Posts

See All