Finishing up 2018 Strong $150,000+- on this Flip!!!

14 Replies

Hello to all of the BP Community,

I wanted to take the time & share a success story with you all. 

Goal: To Encourage, Inspire & Motivate. 

The Deal: 

I bought this property from a direct mailer i had sent out in 2017. The owner had tried renovating the property but had ran out of         money. I bought the property for $200,000 in March of 2018. 

I had the funding to renovate the property & was ready to start the work. In NYC you need to have architect open the Job In order to get a work permit. 

In the time it took for me to get the permit, I started to receive offers on the property from buyers willing to take the property as is. some of the offers that came in were for $325k , $350k, $375k, $399k. I considered ALL offers but decided to go with the last one :-) 

it was an ALL cash over , closing in less then 30 days.  I was very happy with the outcome of the deal. The buyer was brought to me by another BP member who I had met on BP last year.  

Lesson Learned:  NETWORK, NETWORK, NETWORK... because you never know where your next deal will come from.

ProfitI netted close to $150,000 on the deal after closing cost , brokers fees, etc... Not a bad way to end the year. 

Wishing you all happy holidays & a Strong clear Goal for 2019!! 


@Jorge Pena

That's a nice way to end the year!  Networking clearly pays off!

Great work Jorge

@Lucas Haack It sure is Lucas. I was glad to see my mailers give back such great return. 

@Jorge Pena Wow really a grand slam especially since you didn’t even have to do the rehab. Pretty crazy the seller would sell so low , just curious around what price did they buy it for ?

@Joseph M. Thank you Joseph. Im not sure how much they bought the property for, but they have owned the property for close to 15 years . 

@Jorge Pena How is net profit exactly the tile company net proceeds check? You get 100% financing or something. At minimum you’d have some holding costs right?

That is a great ROI on your mailer. Nice payday without having to do the renovations.

Absolutely.Thank you Rubert! @Rubert Grant

@Levi - Thank you so much! I see your in NYC. We should try & get a networking group together. DM if interested :-)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here