SOLD! $45,000 profit to start the New Year.

[Omid A.]

Hey BP,

I've yet to post any of my projects on here and they happen to be my favorite type of posts to see from other members so I figured I'd share one. This is a flip in Tigard, Oregon (suburb of Portland) that just officially closed today. I bought it in August for $262,000.00, put about $60-65k into it (still need to tally up the final numbers) and sold for $410,000.00.  At the time of purchasing this property, I was running a little low on capital so I funded 100% of purchase price plus most of the rehab costs so my holding costs are slightly higher than usual. 

Unfortunately, this is one I don't have the before photos for but we did new windows, garage doors, fencing, refinished the hardwoods throughout, completely updated the kitchen and both full bathrooms, all new doors and millwork, all new fixtures, new carpet, new furnace & water heater, and the list goes on. The project took about 8 weeks from start to finish so it was a relatively quick one.

The deal was brought to me by a wholesaler in the area and he made out nice with a 5-figure assignment fee as well. :)