OfflineThis was a short sale purchase that took several months to buy. It is a 2 bed/2 bath/1 car garage with about 1100 sq. ft. of living area.
Painted inside & out; new toilets, medicine cabinets & mirrors; new light fixtures, ceiling fans, & carpet. Spent about 3K on materials.
Listed on a "Flat Fee" Service for about $ 250; a
REA brought a buyer who was selling his house due to divorce, so we did a doule type of closing when he sold his house, took the cash & bought our house.
Sold it for $ 44,800; with the 3% commission, taxes, title insurance & doc stamps, the net was $ 41,759; less the 3K for materials = 38,759 less the 27,000 purchase price = $ 11,759 profit.
On to the next rehab!!!
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Hi Gary & Jill,
I just wanted to say Thanks for the inspiration. My husband leaves for work at 8am & comes homes between 10 & 12pm everyday. Sometimes he makes a quick appearance for dinner, but not usually. We are getting into Real Estate so we can have a life together. I'm having to start out alone which is scary, but I am here for the long haul. Starting with Dean's "30 Days To Quick Cash Formula". Reading about your 64th fix & flip gives me hope for our future. Thanks & Congratulations.
Jane H
Thanks Jane, I know about working thrus kinds of hours; I did that every winter when we lived in N.J. & I owned a home heating oil company. When ever someone had no heat, we went out, even at 3:00 in the morning.
Real Estate investing not only made us money, but gave us the freedom to have time for our family; I not only got to see our only son grow up, but to take & pick him up from school everyday. The money we made allowed us to work part time, buy a 45' bus motorhome & take 2 month vacations every summer all over this great country of ours, Canada & even Alaska.
I wish you & Doug luck with your re investing, remember not to get overwhelmed, just take baby steps, one after another until you reach your goal.
Love to hear it I am closing on my 1st deal Mon & stand to make 3k! Yeepeeeeee!
Quitting is forever pain is temporary
Congrats Tony! Great job, any profit is a profit & is more than you had before!