Purchase price: $115,000 Cash invested: $33,396 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Otis "Lee" Sams, successfully completed a fix-and-flip on Millgate Drive, Spring, TX 77373.

My capital gain, after recapturing depreciation, is approximately $300K.

Financial ProjectionsCurrent Property Value (As-Is): $180,000Estimated After-Renovation Value (ARV):Low-End ARV: $295,000High-End ARV: $320,000Selling Costs (6%):Low-End Selling Costs: $17,700High-End Selling Costs: $19,200Net Sale Proceeds:Low-End ARV: $277,300High-End ARV: $300,8005.

The NWMLS Buyer Brokerage Services Agreement breaks down how this works. 

Maybe I’m reading this wrong but after reading several articles it’s my understanding that normally when a civilian assumes a VA mortgage the “VA entitlement” will remain with the seller meaning purchasing power in the future will be less since it’s still tied into the current loan and the 1 year occupancy is foregone since the seller has lived in it over a year. 

It seems fair, but definitely comes down to the debt-service coverage ratio, FICO, price, etc. 

Now that we’re back stateside, I’ve begun this boots-on-the-ground service in our local area.

Congrats on the sale of your condo. 

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

Did you sign u for his program to go down to Houston for the tax sale?