Fix and Flip Cincinnati Ohio

[Neil Rose]

Here’s one of the other properties we have - all the numbers are in. Also have full video of the property and rehab bid- if you contact me I can send over to you.

The contractor who bid this is doing a flip with the broker a short distance away.

1- 1733 berkley Cincinnati Ohio 45237- video attached.

Purchase price - 162k

Rehab - 59k- ( I have a bid I will send if you contact me )

ARV- 275k

Home is a 3/1.5 and 1766 sq ft now

The bid includes building out the basement and making the home almost 2300 sq ft and a 3/2 - could easily make a 4/3 if we decided too.

Comp 1 - 1807 Catalina ave - 3/2 2007 sq ft sold for 254k on Oct. 21st. With our additional square footage and bed and bath we should get 275k- 280k

Comp 2 - 1748 mills ave 3/2 1648 sq ft sold for 240k- 500sq ft smaller than ours.

Comp 3- 1636 rose pl 3/2- 1738 sq ft ( they finished the basement like we’re going to do.)

Sold for 260k on sept. 13th

Comp 4- 5310 globe ave sold for 200k on aug. 6th- 1233 sq ft 3/2 - so 1000 sq ft smaller than ours and still sold for 200k

Numbers I have for this project

162k purchase

59k rehab

2k insurance and utilities

6,000 in loan fees and closing fees

(227k)

21k in commissions to sell, project management fee and 1.5% closing costs over commissions

275k sales price
- 21k= 254k

254k- 227k= 27k profit

On this one you're keeping that profit as it's not a JV but set up as a management fee - you could always change that if you want with the broker but that's where it's at as of now.