My 1st Flip was a huge success

[Michael H.]

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

[Lisa Bryant]

@Michael H.

Congratulations, Michael! That is awesome to have reached a goal of getting your first flip and doing it well. All the best as you move forward in your work and making communities better. Very nice!

Learn, Apply, Produce!