Perfect Ranch for First Time Investor
Client is wholesaling a property in Lockport. Property is on a slab foundation and needs minimal work. The numbers are as follows:
Purchase Price: $78,000 (higher than list, but where client needs to be).
Closing Costs (BUY): $2,000
Rehab: $25,000
Holding Costs: $1,500
Closing Costs Sell: $2,000
Commissions 3% (We waive our side of the commission for investor flips): $4,500
BREAK EVEN: $113,000
Sales Price: $150,000 (a well done rehab will get you this no problem, we would start at 155k or 159,500).
PROFIT: $37,000
Message/email me for more details/comps.
Offering