Single family condo flip Annapolis Maryland area

Single family condo flip Annapolis Maryland area

Ken NyczajPro Member
Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes

Investment Info:

Condo fix & flip investment.

Purchase price: $170,000
Cash invested: $75,000
Sale price: $315,000

$170,000 Purchase Price
$8,000 Closing Cost
$4,000 Holding Cost
$75,000 Renovation
$20,000 Selling Costs

$315,000 Sale Price

$38,000 profit.

What made you interested in investing in this type of deal?

Trying to flip properties to make money to invest in rental properties- residential and commercial

How did you find this deal and how did you negotiate it?

Marketing Sign and negotiated face to face with seller

How did you finance this deal?

Local portfolio lender

How did you add value to the deal?

New exterior and interior

What was the outcome?

Good profit

Lessons learned? Challenges?

Do your due diligence when buying condos and read the declarations and meet the board if possible so they approve your work.

0Reply
23 views

6 Replies

Jump to latestLatest
  • Ken NyczajPro Member
    OP
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    5y
  • Investor · Northern VA · Member since 2020 · 124 posts · 87 votes
    5y

    Beautiful work.

  • Ken NyczajPro Member
    OP
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    5y

    @Chris Mills thank you!

  • Flipper/Rehabber · Laurel, MD · Member since 2016 · 139 posts · 109 votes
    5y

    That looks like a big project, congrats on the profit and the deal.  Question the big window on the front that changed to 3 windows, was that a big company or a local contractor?  Really like how they pop out the entire area around the window.  Very nice work 

  • Ken NyczajPro Member
    OP
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    5y

    @Jonathan Tavarez Thank you. Great question. My business partner is the GC on our projects and it's something he does. We didn't add square footage to the house but created a window seat with storage for blankets/ pillows etc.

    Pics below:

  • Ken NyczajPro Member
    OP
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    5y
Join the conversationCreate a free account to reply, vote on answers and follow this thread.