Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » Misc tradies just Flipped my first house,
  1. Results 1 to 16 of 16
  2. Page 1 of 1

Thread: Misc tradies just Flipped my first house,

post 1687513013 07-31-2023, 09:37 AM
-
#1
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085

Misc tradies just Flipped my first house,

Title says it all. Just did my first flip.
Bought for 240 listed for 397 under contract for 376.
I did 90% of the work myself. Cost to remodel 50k
Will walk away with 60k profit.
Chicago area
Took me around 4 months to do the work.
I was physically at the flip location for 510 hours
No bad for the 1st one, will try to do another one if I can find something close to home. Next one I will pickup a bunch of day laborers from home depot, have them do the demo etc..






♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1687513893 07-31-2023, 09:55 AM
-
#2
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Mirin this would be fun work to do
post 1687514403 07-31-2023, 10:01 AM
-
#3
  1. Kawhilights
  2. Registered User
  1. Kawhilights
  2. Registered User
  3. Join Date: May 2017
  4. Age: 38
  5. Posts: 11,072
  6. Rep Power: 76607
Quick maffs says you got about $117 per hour, or roughly the equivalent of a $225-230k yr job. Mirin hustle.

Imagine flipping 4 of these a year? Could get a small crew and flip 2x that a year after a while.
Lurking since '05 - the days of VS gorilla/cloud/goku threads
post 1687514543 07-31-2023, 10:03 AM
-
#4
  1. SteadySmokin
  2. Banned
  1. SteadySmokin
  2. Banned
  3. Join Date: May 2023
  4. Posts: 6,413
  5. Rep Power: 0
thats assuming you sell it fast and at that price. i still think your numbers are off. 240 + 50k = 290 yet you list it for 397 so 100k+ more JUST LOL

i dont think youre gonna have many biters when the rest of the street is selling for so much less even if your place looks nicer
post 1687514603 07-31-2023, 10:03 AM
-
#5
  1. OrdoAbchao
  2. Registered User
  1. OrdoAbchao
  2. Registered User
  3. Join Date: Nov 2004
  4. Location: Chicago
  5. Posts: 7,003
  6. Rep Power: 19077
Real nice. Did you pull any permits or was it just typical interior work that needed to be done?
What are you on about mate?
post 1687514623 07-31-2023, 10:03 AM
-
#6
  1. C4KE
  2. Platinum User
  1. C4KE
  2. Platinum User
  3. Join Date: Feb 2014
  4. Location: United States
  5. Posts: 2,203
  6. Rep Power: 9885
Originally Posted By Destor⏩
Mirin this would be fun work to do
It’s not….but good money in it if you know what how to do the work your self

Edit: mirin op, good ****
Beethoven's 9th

Member since 2010 crew
No Social Media Crew
Black Knight Crew
post 1687514793 07-31-2023, 10:06 AM
-
#7
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Originally Posted By C4KE⏩
It’s not….but good money in it if you know what how to do the work your self

Edit: mirin op, good ****
What would make it not fun? Get to scoop up properties, design and update them, sell 'em

Of course dealing with shady trades and issues along the way but I already do that
post 1687515303 07-31-2023, 10:20 AM
-
#8
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
Originally Posted By SteadySmokin⏩
thats assuming you sell it fast and at that price. i still think your numbers are off. 240 + 50k = 290 yet you list it for 397 so 100k+ more JUST LOL

i dont think youre gonna have many biters when the rest of the street is selling for so much less even if your place looks nicer
I'm already under contract for 376. Was on the market for 9 days
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1687515343 07-31-2023, 10:21 AM
-
#9
  1. friesbruh
  2. Registered User
  1. friesbruh
  2. Registered User
  3. Join Date: Mar 2017
  4. Location: Ohio, United States
  5. Age: 41
  6. Posts: 15,154
  7. Rep Power: 162706
nice pics
Bills crew / Bud Light crew / extra onion crew / M&P crew / lcp2 crew / ap3 crew / Trump crew / mcdonalds app crew / cat-owner crew / Tin Cup crew / self-checkout crew / country music crew / RIP snails crew / 214CE crew
post 1687515533 07-31-2023, 10:24 AM
-
#10
  1. stevebec
  2. Unregistered User
  1. stevebec
  2. Unregistered User
  3. Join Date: Aug 2015
  4. Location: United States
  5. Posts: 6,542
  6. Rep Power: 57623
Originally Posted By ScrillaIsBake⏩
Lot of money in renos srs
There can be, but not always. Neighbor decided to start flipping houses after he got laid off. Ended up losing $30K on the first one, sold his house to cover it and moved back to West Texas.
"Bones heal, pain is temporary, and chicks dig scars" - Evel Knievel
post 1687515583 07-31-2023, 10:24 AM
-
#11
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
Originally Posted By C4KE⏩
It’s not….but good money in it if you know what how to do the work your self

Edit: mirin op, good ****
I honestly enjoy doing that work lol.
I did all of it outside of my regular job.
Afternoons and weekends.
I'm hoping to find another one closer to home, I was under contract for one last year, 5 min from home.
Someone else scooped it up took them 3 months, bought for 260 and sold for 400. That guy had 30k worth of material in it if not less.
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1687515893 07-31-2023, 10:31 AM
-
#12
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
Originally Posted By stevebec⏩
There can be, but not always. Neighbor decided to start flipping houses after he got laid off. Ended up losing $30K on the first one, sold his house to cover it and moved back to West Texas.
I don't think it's possible to flip if you hire contractors, they will fuk your eyes out
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1687516063 07-31-2023, 10:33 AM
-
#13
  1. NitrogenWidget
  1. NitrogenWidget
  3. Join Date: Dec 2010
  4. Location: United States
  5. Posts: 43,261
  6. Subscribers: 1
  7. Rep Power: 349299
but what was capital gains?
or do i not understand how that works?
post 1687516243 07-31-2023, 10:36 AM
-
#14
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
Originally Posted By NitrogenWidget⏩
but what was capital gains?
or do i not understand how that works?
40% but I plan on buying another one 180 days to get one and avoid that 40% tax
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
post 1687516423 07-31-2023, 10:38 AM
-
#15
  1. stevebec
  2. Unregistered User
  1. stevebec
  2. Unregistered User
  3. Join Date: Aug 2015
  4. Location: United States
  5. Posts: 6,542
  6. Rep Power: 57623
Originally Posted By artm⏩
I don't think it's possible to flip if you hire contractors, they will fuk your eyes out
I think they did most of the work themselves, just overestimated what the fixes and upgrades would add to the sales value.
"Bones heal, pain is temporary, and chicks dig scars" - Evel Knievel
post 1687516523 07-31-2023, 10:39 AM
-
#16
  1. artm
  2. bratski
  1. artm
  2. bratski
  3. Join Date: Apr 2008
  4. Location: Chicago, Illinois, United States
  5. Age: 36
  6. Posts: 7,128
  7. Rep Power: 14085
Originally Posted By stevebec⏩
I think they did most of the work themselves, just underestimated what the fixes and upgrades would add to the sales value.
It adds up fast, kitchen bathrooms is what makes a house stand out. You put in a nice kitchen women will piss all over themselves when they walk in
♂Nice Ass Crew♀

What doesn't kill you makes you stronger.
I rape back (if you ask me to :P)
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts