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Estimated fix up: $100,000
Work needed to flip:
-interior / exterior paint, reside the house, roof, flooring, refinish the hardwoods, kitchen, bathroom, finish basement, install bathroom, landscaping
Estimated Sale Value: $650,000
Original Projections to Flip:
If you put an estimated $100,000 into remodeling the house completely, you will essentially be into the property for $510,000. At a sale price of $650,000 - $52,000 (selling cost) - $510,000 = $88,000.00! (net profit)
Acquisition Price: $410,000
Actual Fix up: $108,000
Selling Cost: $51,400
Sale Price: $642,500 (went pending in 20 days)
Net Profit: $73,100!
Time Spent: 4 Months
If you put an estimated $108,000 into remodeling the house completely, you will essentially be into the property for $518,000. At a sale price of $642,500 - $51,400 (selling cost) - $518,000 = $73,100! (net profit)
If any investor is interested in finding out how we completed the entire remodel for around $100k, please call us! We will happily refer you to some good contractors who understand the real estate market and the importance of completing a project in a timely fashion, along with a great price.
Best of success in all future purchases!