~$25,000 Profit on a $72k Fix and Flip
This property was a typical run down rental that you see frequently in San Antonio.
It is a 3/1 and was built in 1951.
I bought it through a TX contact, and we did a full rehab and flip. It took about 70 days to finish. My contact there is a licensed agent and investor. They did all the work and did a solid job. They sent me pics every week of progress.
The numbers on this deal:
Purchase Price: $72,000 cash
Rehab Costs:
- Kitchen Granite: $1300
- HVAC upgrade: $500
- Electric Fixtures: $800
- Interior finish: $2300
- Bathroom: $800
- New floors: $2800
- Dumpster: $1000
- Deck: $3000
- Microwave oven and elec: $600
- Rotten wood removal: $895
- Deck stain: $595
- New sod: $1795
- Shutters: $295
- Concrete stain: $495
- Mail box: $95
Total rehab: $17,270
Total cost: $89,270
Sold price: $115,000
Closing costs: ? still need this number
Profit: ~$25,730
DOM: 150