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Updated about 4 years ago on . Most recent reply

John L DeVitto Jr's profile image
John L DeVitto Jr's profile image
John L DeVitto Jr
  • Flipper/Rehabber
  • from Atkinson, NH
  • Member since Oct 3, 2017
  • Posts 20
  • Votes 13
  • Experience 8 Yrs
  • Investments 4
Connect

User Stats

20
Posts
13
Votes
John L DeVitto Jr's profile image
John L DeVitto Jr's profile image
John L DeVitto Jr
  • Flipper/Rehabber
  • from Atkinson, NH
  • Member since Oct 3, 2017
  • Posts 20
  • Votes 13
  • Experience 8 Yrs
  • Investments 4
Connect
John L DeVitto Jr
  • Flipper/Rehabber
  • Atkinson, NH
13
Votes |
20
Posts
Real Estate Deal Analysis & Advice

Beachwalk Development Project

John L DeVitto Jr
  • Flipper/Rehabber
  • Atkinson, NH
Posted

Investment Info:

Single-family residence other investment.

Purchase price: $450,000
Cash invested: $210,000
Sale price: $3,269,000

5 Single Family Home Development. Bought the land for $480k with a partner. We excavated the land, then got a construction loan to build the 5 homes.
Sale Price on all 5 $ 3,269,000
Land Cost -$ 450,000
Excavation cost -$ 500,000
House Cost all 5 -$ 1,625,000
Permits -$ 61,000
Holding Cost -$ 92,000
Closing Cost -$ 131,000

TOTAL PROFIT $ 410,000

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