I enjoy helping find my best clients projects, so when this one came along, I couldn’t wait to see the results. The process took a bit longer than anticipated for a smaller property to flip, but it certainly turned out well in the end.
After locating a property that needed some help, I walked through it with my client and we came up with a list and estimated costs for what it would take to bring the property up to something more representative of the area.. and negotiated an acquisition at $107k. This was a pretty simple job, and I estimated that in the end it would sell for around $195k finished.. maybe up to $210k, depending how the finishes came out and how the market reacted.
Well, the sale is closed and we landed right on target at $208k without any credits to the buyer! I was able to help my client almost double his cash in a relatively short time, and now we’re out looking for the next one, so he can do it all over again.
I enjoy some of these little deals, as there is usually a good, solid demand for the re-sale at this price point.