OfflineBought a HUD home 4 bed/ 2 bath ranch 1800 sq. ft. with full basement. Purchase price of $55K. This house was the ugly, but I sure did see the potential! New siding, gutters and windows. Gutted the kitchen and both bathrooms. New maple cabinets in kitchen with granite tops, tile floors and recessed lights. Bathrooms new everything also. Updated some of the wiring in the house along with plumbing. Kept original hardwood in part of house and installed new carpet in backside of house where old carpet was previously. Painted the entire house to cover up the yellow and purple walls! New doors, fans and much more. Total rehab cost of $45K.
Listed house with my realtor and was in contract in 2 weeks! Sale price of $132K CASH and I am still smiling!
Profit of $20K at closing which was yesterday after all costs, commission etc!! Every deal is so exciting and I am ready for the next one!!!!!!
Ryan
Thank you Jean, Donna and LLInvestments. I appreciate!
You make it sound so easy! Congratulations!
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
If this was the first, congrats. keep up the momentum. Can't wait for mine.
Hey Ryan,
Right on way to work it!
Denver
"Do, or do not. There is no 'try'"
------Yoda
Think, say and do what is right; refuse to think, say or do what is wrong.
Thank you sphii99, San Bern and Valuni for all kind words! Valuni this was my largest rehab that i have done on a flip. It took 2 months to complete!
And congrats on the cash buyer and price! You obviously did a great job not only on the rehab, but also on the marketing. Keep it up!! Momentum!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Thank you IrvinDs and Phoebus for the kind words. I appreciate!
Tammy- Thanks! Congrats again on your deal and glad you closed! Keep up the momentum!
Scurryd- Thanks! I hope you got one of your offers accepted!
Esteeanna- Thanks! I do have one great team put together that I appreciate so much! The same team for two years now! Took two months to do rehab.
Thank you No Boundaries, Linda, Askinvestments and Denver. I appreciate all the kind words from all of you!
Nice Job!
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
Another great blog...
bp
Kick 'em in, kick 'em out, rinse, repeat, etc., etc. I'm guessing the "90 day ownership" rule wasn't much of an obstacle for you? If you don't mind me asking, how did you finance this house and the repairs on it? Anytime you can make $20K on a flip, is a good day! Congratulations!
Paul: "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when my fear is gone I will turn and face fear's path, and only I will remain."
Duke Leto: "I'll miss the sea, but a person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken." - "Dune."
Thank you for your kind words! I am keeping up the momentum as you mentioned. I will be closing on another deal which is a Fannie Mae property on April 27! Thanks again and I appreciate your post!