OfflineAffordable home in an affordable neighborhood with lots of potential, all this home needs is updating and its GOLD!!!
$300,000 ARV
$200,000 PP including fee
$15,000 Repairs
$60,000 Potential Profit
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Wholesale In Long Beach Ca, Wont Last
Posted on: Wed, 01/16/2013 - 06:16
Wholesale In Long Beach Ca, Wont Last
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- by chonglis1
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My mistake the correct PP is $225,000
I have a lot of buyers for that area, but you have absolutely NO info on your bio! We have no idea who you are!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Are you direct to seller? If so, I am interested in info.
Not interested in daisy chain.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
I see this all the time. Your potential NET profit is way less than stated.
Sells for $300,000
Commissions, closing costs, insurance, taxes, money costs, utilities = minimum of 10%
$30,000
Your fix up estimate $15,000 How can putting $15,000 into a property raise the REAL value $75,000??
Your buy price of $225,000
That makes your net profit $30,000.
Not bad IF the ARV is accurate and the $15,000 rehab will bring the added $75,000 in value. Any cost overruns or lower selling price will reduce that $30,000.
Good Luck!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site