I recently purchased a triplex in Phelps NY which sits on 2 acres.

Even assuming you paid cash and had NO capital expenditures and did NO necessary renovations, the $240K purchase price would put you at a 4.5% cash-on-cash return!

Make sure you have all the tasks for this business determined up front.

So I am not new to real estate, have purchased 9 properties oos, but I am looking to transition to BRRRR strategy.

The land was originally purchased for $500,000 and we believe they spent an additional $100K on it.  

Purchase price: $160,000 Sale price: $180,000 Contributors: Peter Vekselman Partner Driven, in collaboration with J.L.

After careful consideration, we’ve determined this increase is necessary due to our increased utility and maintenance costs.

Here’s what it netted me:$52k in equity at closing: The home appraised at $185k, a full $45k over the original asking price.A solid comp for my flip about to hit the market.A happy seller who got what they were asking for and more.Satisfied buyers and sellers agents with even more commissions.Only $6k down: This is about 3% of the purchase price.I wanted to share this to help get your creative juices flowing when it comes to making deals.

Purchase price: $40,000 Sale price: $78,500 Contributors: Peter Vekselman Partner Driven, in collaboration with Julie Bilyeu, successfully completed a sale on South Holloway Church Road, Lexington, NC 27292.

Institutional backed money and hedge/equity funds have entered the market and spending large sums purchasing SFR needing rehab, thereby lowering supply available to wholesalers/flippers significantly.5.