One to be proud of- Flipping houses can be very rewarding

[Kirk Zacharda]

 2650 Bashor st Duarte- This property came from a contractor that knows we flip houses.  At this stage of the game we make sure everyone knows what we do. Plus we are very passionate about our business so its great to talk with others about what we do. It doesnt hurt when you have the evidence of what you do with photos and closing statements. 

3/2 1150sq ft

Closed Sept 3/23/2016

Rehab completed 5/23/16

In Escrow 6/23/16

Purchase 294k

Original rehab budget 65K

Final Rehab cost 95k - the decision to increase the budget was critical to maximize the sale price of the home. Created master bath and master closet space within the same amount of sq footage. Did not get what we were shooting for because of apartment building behind house. Didn’t realize the impact it would have on the value. Though we went over our budget with our finishes we got top dollar for the market. This was the highest sold home ever on the street and for the size in the area.

Our target ARV was 589k

Sale price 540k on 7/23/16- Property went into escrow at 550k but appraisal came in low at 540k

Net profit- 88k

We used hard money and private money on this deal. All investors made out very well on this one.