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Updated over 8 years ago,
My 1st Flip was a huge success
I've been absent from the forums for a while as I just finished up my 1st flip. I closed 6-20-16 and accepted 1 of 14 offers this morning after 4 days on the market
Purchase price - $65,500
rehab and holding costs - $38, 775
amount invested - $104,275
Selling price - $157,000 as is with appraisal contingency waived
Real estate and closing costs - $9,050
$157,000 - $9050 = $147,950
$147,950 - $104, 275 = NET PROFIT = $43,675