Buy, fix and flipped in 55 day’s

March 29, 2012 by · Leave a Comment 

The Winter Springs flip on Evergreen has sold and went extremely well except for the appraisal. The home was only on the market 2 day’s and I recieved a full price offer ($99,000). We left the home on the market a couple more day’s and recieved 2 more full price back up offers, then we marked it pending. The first apprasal was for more than asking and the second came in at $95,000. I recieved the bad news a couple day’s before closing and was assured it would close on time at the lower appraised price. I went ahead and took it. I still made out good on this house that nobody wanted. This property was on our site for a month at 55k and no takers. Here is how the deal worked out for me:

Purchase – $53,000.00

Closing cost buy – $3,214.45

Hard money payments – $1,469.76

Rehab – $14,414.95

Closing cost sell – $5,306.25

Total cost – $77,405.41

Sale price – $95,000

Profit – $17,594.59




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