Latest Flip Gets Over Asking Offer in 4 Days!
Very excited to let my BP friends know that my latest flip house just got an offer $100 over asking price at the high end of the market in only 4 days since listing on Tuesday 12/5/2017. Purchased house through a wholesaler for $160K who got the house from a widow through probate. I replaced the front door, installed the fence, installed the cabinets, all baseboards, and all tile work (including the barn door shower glass. All other work (hardwoods, carpet, painting, drywall patching, roof, landscape and plumbing) was completed by contractors. By the numbers...
1453 sq.ft. | 3 Bed | 2.5 Bath | Lot 6,185 sq.ft. | 2 Story
Purchase: $160K
Rehab: $47K (included New Kitchen, New Bathrooms, New sprinkers, New Roof, New Sod, New Fence. Minor Foundation work and minor water damage from a patched hole in the roof). This was $7K over my estimate.
List Price: $249,900
Sold Price: $250K
Closing Costs: $8,270 (includes 3% Buyers commission, ListingSpark $176 Sellers commission, 0.25% Title Closing)
Profit after closing: $34,500