The House Flipping Bible

About Flip Thy House

This site is a hands-on look at the world of house flipping and real estate investing as a whole. Follow along as I delve into the world of flipping houses, home renovations, managing rental properties, wholesaling, short sales, and other REI topics.

Current and Past Projects

The Larry House
Purchased: 02/2009
Purchase price: $6,700
Status: Currently renovating

The Creek House
Purchased: 03/2009
Purchase price: $38,000
Status: Renovated and sold for $128,000 on 11/11/2009

The Wee House
Purchased: 12/2008
Purchase price: $9,500
Status: Renovated and rented at $525/month

The Stuck in the '50s House
Purchased: 10/2007
Purchase price: $84,000
Status: Renovated and sold for $150,000 on 06/2008
The Tattoo Parlor House
Purchased: 3/2007
Purchase price: $60,000
Status: Renovated and rented at $850/month

Featured Site

Patio curtains buying guide
 
  • And He Emerges Finally From Distant Circles of House Flipping Hell

    (10)
    Posted on September 1st, 2009SethThe Creek House, The Larry House

    So, umm, yeah. Hi.

    I’d apologize for the pages here going dark for so long, but sometimes you get what you pay for. Ditto to not responding to snarky, gleeful emails about my implied demise or demands for updates about the progress of the Creek House, etc. Sometimes you get what you pay for.

    My own snark aside, man, it’s been a rough few months. I finally finished up the Creek House yesterday, with only a few tiny odds and ends left, and signed all the paperwork with our realtor to list it and hopefully get the damn thing sold.

    As far as catching up on where I’ve been the last few months and what happened with the project, well, it’d take a novel, but the short version is that I had to pull our contractor off the job when I got back from Vegas July 15th and basically finish all the remaining work myself. I’d expected to come back from Vegas to a finished house but the reality couldn’t be further from that, as not only did my contractor try to bill be basically three times what he should have, but tons of work was still unfinished.

    Pretty disappointing, and demoralizing in many ways, as the budget was already about 10% over what I’d hoped for, so not only were juicy profits swirling down the drain, but I was suddenly faced with absolutely busting my butt over the next month and change to get it finished myself, as that was the only way I could hope to still show any sort of profit on the job.

    So that’s basically what I did, and where I’ve been the last few months. Add to all of that the fact that I’m basically working two other full-time jobs at the moment, and free time and motivation to update these pages was pretty lacking.

    But I managed to get through it, and I’m still here, and will get a post up shortly with before and after photos of the Creek House as well as all the gory details about blown budgets and potential profits (ha) and all that good stuff.

    And, against every fiber of my being that wants to never own a house again, I’m starting work on the Larry House, as the redemption period from the tax deed sale has expired, so it’s all mine to start messing with.

    On the bright side, at least the kitchen of the Larry House is in perfect, move-in condition:


    No, seriously, that really is the kitchen sink in Larry’s House, and not the most disgusting image I could find on Google Images.