Sometimes more risk is more reward.....this was 1 of those times!

[Alex Smith]

PHEW! Finally closed on the sale of our flip yesterday after being under contract for 60 days! This was our biggest rehab yet, with many subcontractors and moving parts. It was our first flip with cesspools, underground oil tank and well, so we got to experience the process of installing a septic system which literally took FOREVER to get approved, but we learned A TON along the way! This was a 1750 sqft rancher with a full unfinished basement. We finished the basement adding 1000 sqft of finished space to the house. 4 bedrooms, 2 bathrooms. Brand new roof, windows, driveway, full interior rehab, HVAC, plumbing, electrical. 

Here are some numbers and pics.....

Found this deal off market through a referral

LIST PRICE: $390,000

SALES PRICE: $410,000

Purchase and Closing costs: $111,000

Rehab: $173,000

Holding Costs: $11,500

Commissions, Closing Costs, Referral fee on Sale: $24,000

Profit before Taxes: $90,500