Updated over 3 years ago on . Most recent reply
Sold in 3 days all Cash!
I sold my first actual fix and flip in 3 days to a private acquisition company. I have sold many of my properties before, but they were rentals. This was the first house I purchased with the intent to sell. I bought the property for $80K and put $47K into it, which includes all labor, materials, and payments. I purchased with HM from the same guy I have been using for years. It took 3.5 months to complete the house once I got access inside. During the first two months of owning the house, I had to have my lawyer go to court because the person living in the house refused to get out. This was also one of the reasons I could get a good deal on the property because I purchased sight unseen. I knew the area and what the comps were for the area, and the result was a nice profit!
Purchase- $80,000
Rehab- $47,000 (Labor, Materials, and HC)
Sold- $191,000
