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- đź› FIX & FLIPS? | 1ST MONTH
đź› FIX & FLIPS? | 1ST MONTH
The Good, The Bad, The Ugly
Many people aspire to Fix & Flip. Yet no one’s transparent about the struggles.
It makes sense. No one likes to admit they don’t have it all figured out.
Today we uncover current challenges & how initial planning has helped navigate them.
Let’s go!
The Good:
Most the labor through our construction co.
Saving $$$ from contractors. We have a pulse on current costs.
Relationships with contractors, suppliers, designers, & engineers.
Fed cut rates = more qualified buyers. Shoutout to the homie Jerome.
The Bad:
$24k left to finish rehab.
Halfway through the rehab.
Found a leak a previous owner caused.

Gif by theoffice on Giphy
The Ugly:
Behind Kitchen wall there’s brick. Ruined our plans for a fancy pot filler.
Random plaster fillings behind walls (Watch video here).
Now What?
When you comp a deal it’s important to price in contingencies.
Aka worst case scenarios.
Good questions to ask before jumping in:
What if rehab takes twice as long?
We comped 4 months for rehab.
We need more money for rehab, now what?
Our $50k budget has $20k of flexibility aka extra cushion.
What is our absolute breakeven point?
Breakeven = spending all $50k, selling home at $700k, & 6 months to complete the project.
Let me know if this inside look into our struggles was helpful!
Best,
Alta Vida Team