The town of Scituate, Massachusetts is located right on the ocean just south of Boston, MA. It's a great little town with many beautiful properties, and of course a few properties that could use a little sprucing up.
This house flipping deal began a long time ago, before I even considered buying a property in Scituate.
House Flipping in Scituate, Mass
A couple of years ago I began regularly attending REI (real estate investors) meetings. These meetings are awesome when it comes to expanding your network and building relationships.
During one particular REI meeting I had the chance to present exactly what I was looking for to the entire group. I voiced that I was hoping to find short sale opportunities, and low and behold, that message stuck with one very important woman in the crowd.
The Importance of Networking in House Flipping
I spoke with this woman (I'd use her name but I want to make sure it is OK with her first!) after that meeting and discovered that she specializes in short sales. I was able to get on her short sale email list which was really unexpected and great all at the same time.
To make a long story really short, she eventually found this Scituate property and contacted me. Having honest, trusting relationships can really pay off in the house flipping business to say the least.
This is especially true now in our current market. Good deals don't come easily. I've noticed that the more people I am able to network with people, the more good house flip deals that come my way.
Now onto the good stuff - what we intend on making...
The Scituate, Mass House Flip Dollars and Cents
Because this property is located close to the ocean, we need to open it up and increase its saleability by providing the future owners with sea views and lots of natural light. We want to make this into a beach house that is ideal for entertaining, having get-togethers and just enjoying the ocean air.
The Scituate House Flip In Progress Video
You can check it all out in the video below.
Its our very first "walk-through video" so forgive me if I stumble a little bit as this was my first time on video in a real long time!
You'll also notice that Ryan (my video guy for the day) says "one" just as the video begins. We have a few kinks to work out but we're having fun which is all that matters.
I have big plans for the second floor. We are going to put in a deck (actually we are putting in a deck on the first floor as well), and we are going to utilize open space by creating two bedrooms.
I am certain that the two bedrooms and the second floor deck will really help sell this property quickly and at a good price. It's all about utilizing that ocean view, which is a big selling feature.
House Flipping School Conclusions
We still have plenty of work left to do with this project. However I think we are off to a really fantastic start. I have a talented and reliable general contractor and so far things have gone relatively smoothly. A deal like this is textbook house flipping.
I am sure we will encounter a bump or two in the road at some point in time with this project. Rarely does the house flipping process go 100% as planned.
However any bump in the road for me will be turned into experience passed along to you. So viewed from that perspective, any "issues" that arise with this project are really just another challenge, and an opportunity for you and I to learn something new.
Stay tuned for updates on the Scituate house flip!