Easy $24K Flip in Alvarado, TX

[Rocky V.]

This week just closed/funded another flip for this year. Here are the numbers:

$74,000 Price including all closing costs

$13,000 Rehab including soft costs and last years taxes of $2,050

$116,500 Sold (on market for 7 days and set a new $/ft high for area)

$24,120 Profit (after all closing costs and commissions)

I purchased this home site unseen in Alvarado, TX, which is just south of Dallas and Fort Worth.  There were no big surprises on this one except for having to install all new duct work due to rodent infestation.  Wish they were all like this.

We actually received multiple offers over the $116,500 but they were all USDA and FHA buyers with little down so I decided to go with buyer putting down $40K. Also felt that property may not appraise for the higher amount.

 A couple of before and after pics.

On to the next!!