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Author Topic: The Return of RedStar  (Read 6189 times)

Offline Redstar1324

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The Return of RedStar
« on: June 25, 2018, 03:04:58 pm »
Bought my first rehab in September 2017. Took 7.5 months (don't ask) until the first time I thought I was finished. Original purchase was $115k. ARV was originally $165k. I went ahead and listed it for $169k. Got an offer 4 days later for $200k. Was about to profit $44k, but it failed inspection. The Masonite siding was wet and had to be replaced.

Did all the replacement work and got it back on the market about 5 days ago. Listed for $185k.

I have another rehab house that I closed on 6/1/18. I expect it to be completely finished by the first week of July. I estimate to profit $55k on this one, but as of now I can't get a handle on running comps. I technically know how, but I always come up with vastly different numbers depending on what I use. I'm reliant on the wholesalers comps, which I know is not good.

Also, just took a class given at one of the local REI Clubs by Robyn Thompson, who has done over 400 rehabs and have a lot of good advice. I'm trying to ramp up to 50 houses/year within a few years.

Also, just bought a 2008 Lamborghini Gallardo convertible on HELOC and will pay it off within 2 years.

What's going on everyone? Does Gold River still hang around here?

Offline javipa

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Re: The Return of RedStar
« Reply #1 on: June 25, 2018, 03:32:02 pm »
"Took 7.5 months (don't ask) until the first time I thought I was finished."

That's one of the funniest things I've read recently, and any experienced investor knows exactly why!!!  :biggrin

============================
I'm so impressed with what you've done, especially in light of all the conversations, fears and whatnot that was shared here.

I hope you continue to reach your goals.

JP
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Redstar1324

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Re: The Return of RedStar
« Reply #2 on: June 25, 2018, 04:16:49 pm »
"Took 7.5 months (don't ask) until the first time I thought I was finished."

That's one of the funniest things I've read recently, and any experienced investor knows exactly why!!!  :biggrin

============================
I'm so impressed with what you've done, especially in light of all the conversations, fears and whatnot that was shared here.

I hope you continue to reach your goals.

JP

Thanks.

Offline Redstar1324

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Re: The Return of RedStar
« Reply #3 on: July 04, 2018, 11:10:59 am »

Offline Gold River

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Re: The Return of RedStar
« Reply #4 on: July 10, 2018, 07:37:17 am »
Hi Redstar,

                Congratulations on your first fix and flip! Good luck with your second one!


                       GR

Offline Redstar1324

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Re: The Return of RedStar
« Reply #5 on: July 11, 2018, 05:21:17 pm »
Hi Redstar,

                Congratulations on your first fix and flip! Good luck with your second one!


                       GR

Thank you.

Offline webuyhousesct

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Re: The Return of RedStar
« Reply #6 on: July 30, 2018, 03:40:59 pm »
Nice job, that backsplash tile looks exactly like the stuff I used on the flip I'm working on now.

 




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