Excellent Fix and Flip - Potential $35k Profit
Realtor · Atlanta, GA · Member since 2015 · 266 posts · 182 votes
| Description: |
| Amazing fix and flip opportunity to start 2019 with this OFF - Market project located just on the border of Macon and Warner Robins. Property is located literally within walking distance (less than 1 mile) of new 1 million sqft Amazon fullfilment center that will be opening up at the beginning of 2019 |
| Property search online you will see as 3/2 at 2,143 sqft but has bonus studio apartment in basement adding another 500 sq ft to the property making it a 4/3 at 2,643 sqft. The property will need a complete rehab (cleanout, electrical, plumbing, flooring, paint, etc) and we have already received 5 different quotes that are coming in around $60k - $70k |
| The pictures towards the end is what the property looks like once renovated!!! |
| Recap: |
| Purchase Price: $65k |
| Renovation Cost: $50k - $60k |
| Total Out of Pocket: $115k - $125k |
| ARV: $150k - $175k (depending on studio remodel) |
| Profit: $35k - $50k |
Comps: |
| 4651 Griffin Dr - $149,900 last sales price 10/19/18 |
| 6805 Murray Dr - $185,000 last sales price 2/15/18 |
| Exit Strategies: |
| Flix & Flip - Profit of $35k - $50k |
| Buy & Hold - Market Rents (includes bonus studio) - $1,600 monthly; Cashflow $491 monthly; 8% ROI |
| CASH BUYERS ONLY |
| Please let me know if you have any additional questions and have a blessed day! |