$50K Flip Property Success

[Rodney Marcantel]

Just got an offer 4 days after listing my latest flip property $6,500 over asking. Working with Listing Spark for the first time has saved me over $6,500 in commissions! So that's $6,500 over asking plus $6,500 in commission savings = $13K in additional profit over asking price.

Breakdown of which I did 70% of the work myself...

Purchased home for $112,000 (Cash) 2/24/2017
Closing Costs: $1,461.06
Rehab Expenses: $58,540.78
Holding Costs: $278.17 (Utilities)
Offer Accepted: $230,500 (Asked $224K) 5/8/2017
Profit: $52,637.22
Total Rehab time: 69 days
Days on market: 4 days

Home Facts: 1576 sq.ft. 3/2/2, new roof, foundation (21 piers), masonry work, new HVAC, New Appliances, New cabinets (soft close), totally gutted bathrooms, new floors throughout, new landscaping and sod, painted brick and all interior and 2 non-load-bearing walls removed in kitchen.

[Jay Hinrichs]

nice work !! that's a very quick flip.. you must have some good crews as well.

what about cost of capital.. did you do this all out of pocket ???

Listing Spark ??? whats that

did they offer over list and then ask for seller pre paid credits for their loan.. virtually every deal I have ever done under 300k the buyer ask for seller credits for Closing costs.

how about property taxs?  need to factor those and insurance.

OH I see you did most the work yourself  so you can't beat on the GC or the help

end of the day nice job.

Most folks who would have to hire this out.. and get HML would not do near as well of course but still be in the Black