Loss
A permit sat 111 days and took my profit from 41k to 6k
This one's finished and closed, so I can give the whole number. 1,380 sq ft bungalow, bought at 118 with hard money. Scope was a real gut: full rewire, all new supply and waste, H…
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The full-gut flip is the deep end of renovation, where the investor takes a property in serious disrepair, often down to the studs, and rebuilds it: new systems, reconfigured layouts, structural work, full kitchens and baths.
Log in to followThis one's finished and closed, so I can give the whole number. 1,380 sq ft bungalow, bought at 118 with hard money. Scope was a real gut: full rewire, all new supply and waste, H…
Career changer, zero deals, reading everything. Every write-up about full guts says the same thing, that you need established contractor relationships. Fine. But I don't have any,…
I'd like to do this in a way that doesn't blow up on me, and everything I read about gut rehabs sounds like drama by design. But I keep landing on the same problem when I look at…
Closed the sale nine days ago. I'd been in analysis mode for the better part of two years, and the thing that finally moved me was building a carry model I actually believed inste…
Running a shell in a market I've been watching for a year. ARV supported at 340k by three comps within a quarter mile, all renovated to the finish level I'd be matching. Contracto…
Spreadsheets don't scare me, but I've never managed construction and I don't know what tooling the heavy renovation people pay for. I see ads for project management platforms aime…
Every underwriting model I build for a heavy rehab now has a second tab on it, and I want to know if that's normal or if I'm adding work for nothing. Tab one is the flip. Purchase…
The advice everywhere is to underwrite a gut flip so you can pivot to a rental hold if resale softens. I tried to actually do it and it doesn't work on my deal. Numbers: purchase…
Reading a term sheet for the construction side of a heavy rehab and I've got questions that are probably obvious to people who've done this. Structure as I understand it: 240k pur…
Reading a fixed-price gut contract from a GC and the allowances section is doing an enormous amount of work. Allowance for tile, allowance for cabinetry, allowance for anything be…