Burst Pipe Bargain in Muscatine

[Shiloh Cunningham]

Investment Info:

Single-family residence fix & flip investment in Muscatine.

Purchase price: $70,000
Cash invested: $18,000
Sale price: $122,500

Flip property acquired from HUD. The renovation was mostly cosmetic, except for the abundance of burst water pipes in the house. Almost all water lines ended up having to be replaced. Rehab completed in 3.5 months. Multiple offers over the first few days on market, and after a VERY long escrow, sold right around the 6 month mark.