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Updated over 8 years ago,
Columbus Ohio Downtown Flip Success!
Hello, I am a relatively new investor and new to bigger pockets!
I just wanted to introduce myself to the community and share a quick flip success story.
My main goal is to develop a buy/hold/rent strategy. This flip happened because of a rookie mistake. I was unaware that the condo association had a "no rental" policy.
After finding this out I decided to sell after two years of ownership to avoid paying capital gains and to reinvest my profits into a new condo that I could eventually rent.
I am currently working on a condo in the Brewery District and will post photos when that is completed.
I am always looking for opportunities and new connections so please reach out!
Here are the numbers:
Purchase Price: $143,000
% Down: 10%
Rehab Cost: $10,000 (Did work myself)
Resell Price: $205,000 ( 24 months later, record price for the building)
Profit after Realtor Fees: $40,000
After Photos are below: