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All Forum Posts by: Wesley Washington

Wesley Washington has started 1 posts and replied 3 times.

Buying & Selling Real Estate

Post: Calculating Profit House Flip

Wesley WashingtonPosted
  • Rental Property Investor
  • Posts 3
  • Votes 0

Thanks for the quick reply. I think I am just confused as to why the rehab draws wouldn't count, as they are offsetting what I spent?

0 Votes
Buying & Selling Real Estate

Post: Calculating Profit House Flip

Wesley WashingtonPosted
  • Rental Property Investor
  • Posts 3
  • Votes 0

Hey everyone, I have a question in regards to how profit on a flip should be calculated, with a hard money loan. I used round numbers to make the example more simple.

PP: 200K

Rehab:100K

Sale Price:400K

Because I have a HML, they are covering 100% of loan, so in this case $100K. Since I am paying $100K for the rehab but being reimbursed 100% of it, is my profit 400K - (200K + 100K - 100K)??? Or is it still $400K - (200K + 100K)??

Thanks

0 Votes
Questions About BiggerPockets & Official Site Announcements

Post: Tell me your BIG Real Estate Goals for 2020!

Wesley WashingtonPosted
  • Rental Property Investor
  • Posts 3
  • Votes 0

5 doors and minimum $500/month in rental profit.

0 Votes