344% Cash on Cash ROI for Indianapolis Flip

[Ben G.]

I just finished up a flip at 729 Maple LN in Brownsburg, Indiana, a suburb of Indianapolis!

Purchase Price: $57,000 direct from motivated seller. I wholesale the vast majority of my deals and market direct to motivated sellers using direct mail, and online advertising, which enables me to find highly discounted properties.

Funding: A private lender loaned me $57,000 in private money at 12% and 2 discount points secured by a 1st mortgage. Win-win for both me and my network of lenders!

Rehab, Holding, and Closing Costs on the purchase: Roughly $9,000 of my own cash invested

Listed: $116,900 - Full price offer after 1 DOM. Currently waiting on inspection report to comeback.

I have more deals like this in my BiggerPockets Marketplace Thread.

This is my best deal since I began investing 3 years ago.

I felt like sharing it with the community to inspire people to take action! 

Without BP this wouldn't have been possible. Thanks to all of those in my network that have either supported me or mentored me along the way in one form or another no matter how small. These people include:

@Dave Short

@Shawn Holsapple

@Ryan Mullin

@Will Hull

@Brett Snodgrass

@Stephen Barton

@Don Harris

@Wendell De Guzman

and many more I'm forgetting at the moment.  Thank you all!

[Ben G.]

Originally posted by @Ryan Cummings:

@Ben G. Congrats, that's awesome!

Would you be able to share what kind of rehab you did?  It sounds like you got a great deal, that property looks very nice.

 No problem Ryan.  It was a cosmetic rehab.  Structurally and mechanically the house was fine with the exception of the water heater.  Paint, Interior, gutters, exterior paint, trim work, doors, fixtures, hardware, again all cosmetic. 

[Andy Binford]

Good job!  I love Brownsburg as an investor.  Good schools, safe area, booming.

[James Maradits]

Congrats!

I spend a lot of time in Brownsburg for work.  It's a hot sellers market now with all the new warehouses and businesses moving into town.

[Doran Summers]

Ben G. I would like to connect with you as our company may have some more properties in Indy.

[Doran Summers]

Danny Carter can you send a connection request to add to our buyers list you requested above?