Comments on: House Flip Story: Alvarado Sq – Update 1

By: Luis

Luis — Mon, 01 Feb 2010 21:11:16 +0000

Posting the financial figures would not be boastful it would be business. However, you bring up a good point about your competition, I had not thought about that. I think posting PURCHASE, REHAB, and SALE prices would be good.

Another importance for showing numbers is that as you know, learning to estimate your costs and keeping a budget is crucial in this business. It would be nice when I see one of your videos to be able to see what a $10, 20, 30, 40K rehab looks like.

Another thing you might want to include is your rehab cost per square foot. I started using this myself and I think is a good measure to compare rehabs in an apples-to-apples comparison. That way you can compare “A” house to “B” house etc. in an objective manner.

By: Luis

Luis — Mon, 01 Feb 2010 20:11:16 +0000

By: Craig Fuhr

Craig Fuhr — Sun, 31 Jan 2010 13:55:26 +0000

Thank for your comments, Luis! I think you make some great points. Again, this week, I was really trying to think about how I can present the whole picture without seeming like I'm bragging – and without tipping my hand to all my competition.

I think I decided that once I sell the properties, I will post the PURCHASE, REHAB, and SALE prices, then let the readers extrapolate my profit from what they know about holding costs, transfer fees, etc.

What do you think about that?

By: Luis

Luis — Sun, 31 Jan 2010 13:51:33 +0000

Craig I am new to your blog and thank you for it. As a flipper myself, currently working on two deal I always appreciate finding out what other flippers are doing so I can learn from them.

IMHO numbers are crucial! Not to be boastful but to truly understand the business. It's one thing to say this can be lucrative and done on a full-time basis but it is another to prove it with the numbers. Without them you are only showing half the picture.

By: Craig Fuhr

Craig Fuhr — Fri, 01 Jan 2010 18:15:52 +0000

Mike – Thanks for taking the time to write. Comments on the blog really make my day. I think I've decided that I will post all the numbers for each project at the end – after the sale. Once we're finally done with each property, I'll do a post-mortem.

By: Mike

Mike — Fri, 01 Jan 2010 16:15:02 +0000

Craig, Great job and good luck in 2010. Regarding posting your numbers, no it's not bragging, but it is personal info and everyone should understand that part of it. However, some of us would like to see the numbers as inspiration, and to see how it is done. I am a buy and hold investor with 5 rentals with one on the way. All were turn key as I don't have the knowledge (or guts) to do a rehab…also have a full time job.