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Updated almost 10 years ago on . Most recent reply

User Stats

287
Posts
171
Votes
Jonathan C.
  • Real Estate Investor
  • Nashville TN
171
Votes |
287
Posts

Most Recent Flip, $58K Profit, Pics and Numbers

Jonathan C.
  • Real Estate Investor
  • Nashville TN
Posted

Wish more could be like this one.  Info below.

Purchase: 119k

Rehab: approx 67k

Sell: 263k

Net profit: $58k (really good one)

How I got it: wholesaler

More details below

Pics below

Final Reconciliation
Time from start to finish (in months)4.13
Time from start to finish (in % of year)34.40%
Cash from Borrower (Line 303 on HUD) 18303.84
Add back earnest money deposit if I sent one100
Total cash to purchase 18403.84
Less whatever commission I received- with the admin fee of $395 taken off of the total commission amount0
Cash to purcahse less commission (final total amount of cash invested to purchase)18403.84
Add
Rehab Costs66678.83
Utility Costs @ 80/mo330.4
Mist Costs @ $1K1000
Total Cash Costs Not Including Interest86413.07
Interest- subtract my Eagle unused interest payments from the interest reserve; add the interest payments I made for hard money4480
Total Cash Costs Including Interest (subtract for Eagle, add for hard money)90893.07
Cash to seller (Line 603 on HUD)149757.36
Any commissions I received when selling0
Cash to seller plus any commissions I received (my net cash at sale)149757.36
Net Profit$58,864
Return on cash65%
Annualized return on cash188%

Most Popular Reply

Account Closed
  • Investor
  • Baltimore, MD
688
Votes |
1,368
Posts
Account Closed
  • Investor
  • Baltimore, MD
Replied

Nice. Anytime i complete a flip and get a check, i always think about what others have to do to earn that kind of money and become grareful

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