Flip in Sanford Florida

[William Dedelow]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $78,000
Cash invested: $129,846
Sale price: $180,000

Contributors:
Doug Spence, Jared Maltbie

Sold this one for $102,000 more than we purchased it for.

Purchased for $78,000 + $1441.13 cc, renovation costs $50,404.87. Sold at $180,000. Net proceeds from sale, $166,606.28. Profit, $36,760.01, plus we were on both sides of the 5% sales commission, bringing in another $9,000, so we cleared over $45k. Used crowd funding to get this done and our investors made 22.49% on their money. Went a little over budget, but there was a big gap between the nice houses selling around $155k and the best houses selling around $175k. We hit our mark!

Big bonus on this one! The house was on a double lot. We kept the vacant lot which is worth another $20-$25k, bringing our profit to over $65k! We'll be building on this in a year or so.

Doug Spence with the Electric Company of South Florida handled the electrical work on this one.