Columbus Ohio Downtown Flip Success!

[Sam Gergley]

Hello, I am a relatively new investor and new to bigger pockets!

I just wanted to introduce myself to the community and share a quick flip success story.

My main goal is to develop a buy/hold/rent strategy. This flip happened because of a rookie mistake. I was unaware that the condo association had a "no rental" policy.

After finding this out I decided to sell after two years of ownership to avoid paying capital gains and to reinvest my profits into a new condo that I could eventually rent.

I am currently working on a condo in the Brewery District and will post photos when that is completed.

I am always looking for opportunities and new connections so please reach out!

Here are the numbers:

Purchase Price: $143,000

% Down: 10%

Rehab Cost: $10,000 (Did work myself)

Resell Price: $205,000 ( 24 months later, record price for the building)

Profit after Realtor Fees: $40,000

After Photos are below: