17% ROI on JV Partner Flip

[Lizina Green]

910 Willowbank Rd, Georgetown. Sc

In well established, sought after neighborhood. There are no renovated homes for sale in this neighborhood and only 1 house for sale (and its outdated). Our last flip in this neighborhood was under contract at asking price in less than 7 days.

House is on 4 lots (can't be split), has potential for water/marsh views

4 Bedrooms 2.5 Baths

Heated Sqft: 2100

REHAB: No new roof on this one (done July 2017) but need to replace soffits, install a fence to direct people to the front door, update front porch, Removal of Potential Asbestos floor tile, reconfigure to have 1 of the 2.5 baths to a master-bath, renovate the other bathrooms, update kitchen, new appliances, waterproof crawlspace, replace 1 of the HVAC units (1 is new and 1 is old), replace all windows, add design details, and have marsh brush cut down to expose a potential water view.

Purchase Price: $112,350

Rehab: $60000

Time from close to close: 5 months

Purchase Closing date: January 2nd (likely close later in the week due to holiday season)

Potential List in March 2019

Potential Sell Price: $259,000

Potential Profit: $59,000

Investment Opportunity: $172350 for purchase and rehab for a 50/50 split of the profits. First position lien. Funds would be transferred through attorney escrow.

We will cover all closing costs and holding expenses.

Check our profile to see our previous flips.

Contact me at [email protected].