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.

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