A Decidedly Non-Junk $62k San Antonio House Rehab and Flip

[Account Closed]

Not everything I do is owner finance of affordable homes in our fine city. I also do some light rehabs and flips to make 15k quickly. 

This house below north of downtown San Antonio is in an appreciating area. I bought it for $62,000 cash. It was in need of paint in and out, new flooring and some minor pier and beam foundation work. 

Before: 

After (1 month rehab by my crew): 

Rehab for new flooring, paint in and out, and minor foundation. I did some painting and junk removal and left the rest to the experts. 

Oh, here is the bid on the repairs: 

Flooring: $3000

HVAC tune up: $200

Window blinds: $650

Interior clean out with dumpster: $750

Paint in and out, plus storage building: $2700

Electric update fixtures: $600

Foundation: $1700

Management fee: $1000

Total rehab actually was $10,600 (thought it was 15, I just checked the bid sheet). So total all in is $72,600.

On the market for $89,500 for a quick sale. About a 17k profit when it sells. I try to do four of these quick flips for cash each year. 

I still like my owner finance houses with a good cap rate and no maintenance, but these little flips are nice too to build up cash. I do not like loans and mortgages :)

I'll let you know when it's sold!