Successful Flip from a Bandit Sign
We found this property through our first run of posting bandit signs. After months of minor hurdles, we finally purchased the property using seller finance. We helped relocate the homeowner to another residence and then started on the redevelopment of this property. We were able to finance the repairs through a fellow Fortune Builder's Mastery Student. A few months later and a few minor setbacks, we completed the project and sold the property at our asking price. Repairs included a full gut of the entire property down to the studs. We installed a brand new roof including all brand new plywood, new wood-look tile flooring, carpet, cabinets, stainless steel appliances, quartz counter tops, windows, new sliding glass door, ceilings fans, fixtures, replastered and new tile to the pool and put in new pump and filter, landscaping, brand new garage door and opened up the kitchen for a more open floor plan plus many other repairs, the list goes on and on. A major lesson we learned was to schedule the roof contractor earlier as all were at least 4-6 weeks out for installation. Would love to know your thoughts on this project, it was our biggest project to date and also completed this house while rehabbing others. We currently have 5 rehabs under way and are looking for more!
| Property City: | Las Vegas |
| Property State: | NV |
| Purchase Price: | $40,000 |
| Repair Costs | $84,000 |
| Holding Costs: | $5,000 |
| Sale Price: | $219,888 |