High-End Flip Property in South Florida. Estimated 100K Flip

[Cedric Dadaille]

New Flip Property.

Asking $549,000. Estimated ARV is $1,000,000

Sheet: Bigger Pockets sheet for Financial Breakdown

Comps:

--6208 Nw 72nd Way. – Sold for $1,100,000. This property is on a similar lot, but it is 1000 Square feet Smaller.

--6780 NW 65th Ter – Sold for $1,000,000. This property is on a similar lot, but is 1200 Square Feet Smaller. This property was on the market for 12 days.

-- 8825 East Watercrest Cir – Sold for $861,000. This property is 3,500 sq feet smaller, and only a 11,000 Sq ft lot.

Financial Breakdown

Purchase Costs

Purchase Price ($549,000.00)

Purchase Closing Costs ($11,000.00)   --- 2% Closing Costs

Total ($560,000.00)

Rehab Costs

Total Rehab Costs ($200,000.00) -- I've been quoted 150K by a General contractor, added 50k to be safe.

Total ($200,000.00)

Holding Costs

Monthly Holding Costs ($10,000.00) -- Estimated 10k a month.

Total Days Held 180 --- Estimated 6 months

Total ($60,000.00)

Sales Costs

After Repair Value $1,000,000.00

All Selling Closing Costs ($20,000.00) --- 2% Closing Costs

Real Estate Agent Fees ($60,000.00) ---6% Closing Costs. Can be brought down 30k If you're an agent

Total $920,000.00

Total Profit for Flip $100,000.00

$130,000 If you're an agent.  Up to $230,000 if you can sell it for 1.1 Million like 6208 NW 72nd Way.

Call or Email me for more information

(561)-674-2240

[email protected]