New Personal Best on Buy, Full Rehab, Sell- 3 months 1 week

[Derek T.]

Guys I just set my personal best (with a lot of help from my good friend Ophelia Nicholson) on a buy, rehab and sell.  I bought this 4/2.5 sfh on 12/17/14 did a complete rehab on it and sold it on 3/24/15.  Just excited about it and wanted to share.  This is with 2 weeks of set backs (fired a crew, started 5 days after buying and the holidays in between) for the rehab and a week delay in closing.  Rehab included new roof, new hvac, new plumbing, some new electrical, new floors, new bathrooms, new kitchen, gutters, a good amount of drywall......pretty much everything except new siding, etc..  Thanks again Ophelia for all the help!!

Buy/Closing Costs/HML Upfront Costs: $147,974.06

Rehab Costs (includes all labor/materials, utility bills, cleaning, landscaping, 1 hml payment, photos, etc): $67,972.59

Sold: $270,635.56 ($300k - $29,364.44 in closing costs, concessions, realtor, etc)

Realtor Commission Received: $7,500

Net Proceeds= $62,188.91

Here is a few pics.....

Before Pics

After Pics

[Derek T.]

Thanks Julie, Kimberly and Scott.  

Kim...... MD definitely is expensive especially on this side of town. But down here you have something for every player. $50k houses in rougher neighborhoods, $400-$500 ARV houses in other neighborhoods. New constructions going up anywhere from $350k-1mil +. All about what avenue you want to be in I guess.