The true budget spent doesn't seem to add up. A lot of times they claim to renovate the entire house for 20, 35, or 50K. I have been doing research and would be doing some more, but from what I see a mordern kitchen alone could easily cost 20K or more by the time to put in a new fridge 1.5-3k, mw 499+, cabinets 5-10k+ and that is just to buy without having them installed (contractor fees). Not to add all the unforeseen spending on Oops like mold, rotted wood.

I think they are not disclosing the true costs and profits made, bcos it just doesn't seem to add up.

I recently saw that episode on oct 7th 12:30-1am Est about those 2 guys that purchased direct from China...that seemed nice, but how convinient is it really to have to fly to china and make purchases in a place you prob don't know anything about and what if the items don't fit right and how about shipping costs? It would be nice it there was an online site to buy home improvement stuff from places like China direct. So far the ones I found would only sell in huge Q like 300-10,000 and often times you only need a couple for your flip...if you know about a lugit site online where you can buy direct from China and save big let me know....

I would like to flip some day, but I definately need to know for sure how much these things would cost (appliances and contractor fees) that way I can better manage and control budget. However since I have $0 to invest right now, I need to work on saving atlest 50-75k for the next few years. Or better yet 100k should be enough for my first flip I hope.

Are you an experienced true flipper or an aspiring investor as I (rookie), feel free to comment and/or advice....

I am a general Contractor and have done many flips. If you are a hands off guy. Hire a contractor to do all the work. You can't count on more then a 25% pure profit. Where can you invest money and get a 25% return in 45-60 days ?? Market is flat now. and will remain flat till the new prez gets in office. Stay away for now.

I did a COMPLETE RENOVATION of a forclosed drug house on a budget of 25K. Tile and hardwood floors, all new windows and doors, new heating system, new kitchen appliances...etc.
If you do the work your self, and are willing to do 18 hour days, I made 31K profit (i was living there at the time, but if you want to subtract 6 payments at $600/month, I still made 26K) in 6 months (it took me so long because I was working a 50+ hour/week full time job). I Doubled the value of my house, and only paid a contractor to do the plumbing. Everything else was me and some friends who worked for beer and pizza. If I was doing it full time, I could have knocked it out in 8-10 weeks I think. I found bargains on new appliances, windows, doors and paint in alot of places. Just asking about floor/display models, cutting coupons, and using recycled/oops paint...etc. I estimated my savings at roughly $4,400. Roughly 25% of my total budget... In hindsight, I could have saved another %5-7, but its a lesson learned.