5 minutes to read

My First Real Estate Flip. Here are the Pictures.

I haven’t written on my blog in a while. Quite frankly, it’s too time-consuming.

This isn’t a problem in and of itself, but it tends to be one when it starts to interfere with a lot of other things that I have going on…like traveling, reading, getting ready to relocate to another city, and beginning a new obsession as a real estate investor.

Writing a great blog post from the heart can take hours. For now, I’d rather focus that energy on this new real estate mogul obsession. So instead of writing today I’m going to post the pictures of a home that I purchased at the county courthouse for only $86,050. It will likely require less than $10,000 in work (labor and materials) before I can place it on the market to sell or to rent.

Comps in the neighborhood shows that I can rent the property out for about $1,200 monthly or sell it right away for $145,000. According to Keller’s, “The Millionaire Real Estate Investor,” buying and selling will make someone rich, but buying and holding will make someone wealthy (you’ll always have the ability to generate an income from your assets).

Once I settle down and decide whether or not I’m going to sell the property or rent it, I’ll write about the details on how I acquired the property. Eventually. Learn from my experience. It really is easier than you think. I’m just not going to write about it now.

For now, just check out the pictures: It’s a 5 bedrooms, 2.5 bathrooms home in a well-established neighborhood.

Bedroom 1

Bedroom 1

Bedroom 1

Bedroom 1

Bedroom 2

Bedroom 2

Bedroom 2

Bedroom 2

Full bath

Full bath

Full bath

Full bath

Closet

Closet

Kitchen Pantry

Kitchen Pantry

Kitchen

Kitchen

Kitchen

Kitchen

 Kitchen/Dining Area

Kitchen/Dining Area

Broken Window

Broken Window

Downstairs bedroom 5

Downstairs bedroom 5

Powder Room

Powder Room

Downstairs bedroom 5

Downstairs bedroom 5

Stairs

Stairs

Bedroom 3

Bedroom 3

Upstairs Loft

Upstairs Loft

Dining Area

Dining Area

Living Area

Living Area

Living Area

Living Area

Hall Coat Closet

Hall Coat Closet

Floor Plan

Floor Plan

Bathroom

Bathroom

Bedroom 3

Bedroom 3

Hall Closet

Hall Closet

Interested in see what the property looked like after the flip: Here is my investment property, after the rehab.

Comments

  1. Good luck! This looks like an awesome project. I look forward to hearing more details.

  2. Doesn’t look too terribly bad except for maybe some new carpet, paint and a bit of cleanup. Although – a lawnmower in the living room? Really? Wow.

  3. yesiamcheap says:

    This looks like a good deal! Replace a few windows. Get appliances. Wall-to-wall carpeting, a fresh coat of paint and you’re good to go. I would probably add a few upgrades but I would likely sell it.

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