OfflineJust left the title company with a check for $ 59,900. It was from the closing of rehab # 67: Bought for 35K; installed new kitchen cabinets/counters; appliances; paint; carpet; toilets; vanities; light fixtures; ceiling fans & had a new roof put on, total
spent on was about 10K.
Profit of about 15K for 3 weeks of work on this house.
We've started on the next rehab a couple of days ago; are having a roof put on another property we aquired 2 weeks ago; & are doing an inspection of a REO
property that the bank accepted an offer last week, this one we are also doing with Ryan(Cub).
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You can see that break down on costs above; that are just the cost of materials, except for the roof, that was installed. Please keep in mind that these are the "bread & butter" type of houses, so we use entry level light &
plumbing fixtures, appliances, flooring & carpet. Our niche is having everything new, while keeping the price at or below the original comps in the neighborhood. When people see ours, it gives them an easier choice because there's nothing additional to do or buy.
We do always look for sales, as in the case of the 20% off on the kitchen cabinets; or using a 10% off coupon when purchasing other materials. We re-glaze bathtubs for $ 259 as opposed to replacement; less money & labor & is ready to go in only 1 day. All these little things add up to successful, reasonably price rehabs.
It feels like we're on fire down here with the heat & humidity, especially being outside painting. Thanks!