Lafayette, LA Success Story #7

[Will Menard]

Wanted to share by success story of a recent flip here in Lafayette, LA. Bought the home for $90,000, 3 bedroom, 2 bath. The property was hoarder house; definitely the worst we had ever seen.  There were neighbors who were worried about the trash and rodents inside the property but we happy to see someone take on the challenge of this distressed home.

Construction was estimated to be around $70,000. Almost everything was touched inside and outside of the house: plumbing, electrical, floors, cabinets, tubs, drywall... you name it. There were 6, 30 yard dumpsters of trash removed from the property!!!  Final construction budget came in at $73,000.

Decided to list the home at $235,000 based on the comps, location, etc. This area is a valuable one due to the great locations, close proximity to the local college and school zone. The home was on the market 1.5 months before getting nice offer! SOLD.

Breakdown:

Purchased - 2-20-17, Closed - 7-27-17

Sells Price - $224,000

Purchase Price - $90,000

Construction - $73,000

Commission - $11,500

PROFIT - $$$

Front - Before/After

Hall Bathroom - Before/After

Master Bathroom - Before/After

Dining - Before/After

Finished Kitchen