My First Flip Success with Ms. Timothy Ln.

[Luis Montanez]

Can hardly contain myself, I have not closed the deal yet but I can already visualize the check.

I was baking cookies during the open house when I received the call from the broker to inform me that we had received an offer for the home after being listed on the MLS for only ONE day. I was like, Whaaaat???? then I was almost 100% sure it was going to be a low ball offer (like the ones I tend to do) and behold... it was for $7,000 more than the listed price....

I considered myself a pure "Buy and Hold" investor... but flips are so much fun,  Now all I can think of is the next 5 that I want to do this year...

Below the numbers and some before and after pics. 

PURCHASE COSTS:	Closed on November 21, 2014
Purchase Price	($58,500.00)
Closing Costs	($1,457.04)
Total:	-$59,957.04
REHAB COSTS:
Labor	($5,600.00)
Materials	($4,727.98)
Total:	-$10,327.98
HOLDING COSTS:
Interess Cost	($1,440.00)
Lawn Care	($55.00)
Other	$0.00
Total:	-$1,495.00
SELLING COSTS
Selling Price	$107,000.00
Commission To Agents	($4,512.50)
Seller's Closing Costs	($3,210.00)
Total:	$99,277.50
Anticipated Flip PROFIT:	$27,497.48

Before Pics:

After Pics