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Updated over 8 years ago,

User Stats

130
Posts
64
Votes
Michael H.
  • Investor
  • Kansas City, MO
64
Votes |
130
Posts

My 1st Flip was a huge success

Michael H.
  • Investor
  • Kansas City, MO
Posted

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

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