[loover21]

Im interested in flipping my first house and am looking for any advice that might be out there! Im looking to buy a former marijuanna grow op for $360,000. It is a 2003 home 2,400 sq/ft 2 storey. Im trying to find out if a complete reno inside could be done for $100,000 all new flooring, insullation, drywall, painting, kitchen cabinets and counter, appliances, doors, hardware, trim, bathrooms, pretty much everything interior. If you have any advice or good sites, please help!

[ballengerb1]

I have done several flips and $360K is rather on the high end. What's the average home going for in this neighborhood? Don't expect to handle all of this work on your own. Do you have a means of getting a small crew for demo and a few subs who will work quick and cheap? That's the key to a flip, you can't pay the going market rates for these jobs and you should take on anything that matches your skill level even if its only drywall or paint. My first flip was on my own and it took way too long, 6 months. My latest flip was 3 weeks, I hired 5 guys standing outside Home Depot.

[loover21]

Im in Calgary Canada, where our economy is booming! The average house price in the city is $420,000. I'm actually a realtor here, so I know what comparibles would sell for in the area ($500,000-$520,000) but I have never done a flip before. Unemployment is at an all time low and wages at an all time high, so I would want to do a lot of the work myself! With the exception of drywalling I think! The house has already been remediated, so all of the mold is taken out which means there is no drywall carpets, its all gutted already! I know there is a lot of unknowns on your side but does $100,000 sound resonable to get the job done?

[ballengerb1]

I've answered and returned your IM