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Updated about 11 years ago on . Most recent reply

User Stats

693
Posts
216
Votes
Scott K.
  • Real Estate Investor
  • Madison Heights, MI
216
Votes |
693
Posts

done deal. Close on Thursday

Scott K.
  • Real Estate Investor
  • Madison Heights, MI
Posted

Well after many calls and hassles we are closing on Thursday. Got title insurance all set. Here's some numbers.

final cost: 24,307

150 taxes a month

3,000 all floors need to be done

700 paint interior / exterior

kitchen is the question mark on this one.

I will take out all the cabinets and might try to paint them. They are in great shape just that ugly *** honey oak.

1,400 Needs all new fridge, stove, dishwasher

1000 yard cleanup (trees)

350 for dumpster

Furnace and water heater look to be in good shape.

At worse

1200 for new furnace

500 fix windows

600 3 exterior doors

1500 for who knows what

1500 bathroom

so 24307+12000=36,307

3000 fee

ARV=55,000

55,000-39,307=15,693

well that number would be nice for my first true flip.

I am excited and eager to get going on this.

Most Popular Reply

User Stats

693
Posts
216
Votes
Scott K.
  • Real Estate Investor
  • Madison Heights, MI
216
Votes |
693
Posts
Scott K.
  • Real Estate Investor
  • Madison Heights, MI
Replied

Showed the wife after we closed today and she didn't kill me so that a great start to the flip.

Hope the weather this weekend will be good enough to work outside.

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