Most Recent Flip, $58K Profit, Pics and Numbers

Most Recent Flip, $58K Profit, Pics and Numbers

Real Estate Investor · Nashville TN · Member since 2009 · 287 posts · 171 votes

Wish more could be like this one.  Info below.

Purchase: 119k

Rehab: approx 67k

Sell: 263k

Net profit: $58k (really good one)

How I got it: wholesaler

More details below

Pics below

Final Reconciliation
Time from start to finish (in months)4.13
Time from start to finish (in % of year)34.40%
Cash from Borrower (Line 303 on HUD) 18303.84
Add back earnest money deposit if I sent one100
Total cash to purchase 18403.84
Less whatever commission I received- with the admin fee of $395 taken off of the total commission amount0
Cash to purcahse less commission (final total amount of cash invested to purchase)18403.84
Add
Rehab Costs66678.83
Utility Costs @ 80/mo330.4
Mist Costs @ $1K1000
Total Cash Costs Not Including Interest86413.07
Interest- subtract my Eagle unused interest payments from the interest reserve; add the interest payments I made for hard money4480
Total Cash Costs Including Interest (subtract for Eagle, add for hard money)90893.07
Cash to seller (Line 603 on HUD)149757.36
Any commissions I received when selling0
Cash to seller plus any commissions I received (my net cash at sale)149757.36
Net Profit$58,864
Return on cash65%
Annualized return on cash188%
17Reply
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Most Popular Reply

Investor · Baltimore, MD · Member since 2014 · 1k+ posts · 688 votes
11y
Nice. Anytime i complete a flip and get a check, i always think about what others have to do to earn that kind of money and become grareful
See this reply in the discussion

69 Replies

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  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y

    Great job, Jonathan!  That house looks pretty small, what's the square footage?

  • Real Estate Investor · Nashville TN · Member since 2009 · 287 posts · 171 votes
    11y

    Hi @Jon Klaus yeah, it is. 1020 square feet.  And thanks!

    Looks like my profit calculations spreadsheet didn't get posted right.  I've attached screenshot in case that's helpful for anyone.

  • Real Estate Investor · Nashville TN · Member since 2009 · 287 posts · 171 votes
    11y

    Final attempt

  • Residential Real Estate Broker · Antioch, IL · Member since 2013 · 87 posts · 34 votes
    11y

    Nicely Done! @Jonathan C. 

  • Investor · Baltimore, MD · Member since 2014 · 1k+ posts · 688 votes
    11y
    Nice. Anytime i complete a flip and get a check, i always think about what others have to do to earn that kind of money and become grareful
  • Investor · Fairfield-New Haven-Hartford County, CT · Member since 2013 · 825 posts · 413 votes
    11y

    Congrats @Jonathan C. looks great!

  • Toronto, Ontario · Member since 2014 · 615 posts · 172 votes
    11y

    Congratulations! Good finishing. Looks great

  • Phoenix, AZ · Member since 2014 · 5 posts · 4 votes
    11y
    Nice!
  • bennett, CO · Member since 2014 · 225 posts · 122 votes
    11y

    so pretty!

  • Dawn BrenengenBusiness Member
    Moderator
    Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
    11y

    Great job!  I love the tile in the bathroom.

  • Mokena, IL · Member since 2014 · 1 post · 0 votes
    11y

    Congratulations!! Awesome job!

  • Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
    11y

    I absolutely love reading these kinds of things. Such motivation. My long term strategy is buy and hold. But we are going to start doing flips this year as well. 

  • Investor/Realtor · Wentzville, MO · Member since 2014 · 846 posts · 431 votes
    11y

    @Jonathan C.  Congratulations!  Very exciting!  How do you plan to use the profits?

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    11y

    Great job!

  • Involved In Real Estate · Mc Kinney, TX · Member since 2014 · 48 posts · 8 votes
    11y

    Very well done!  

  • Investor · Woodstown, NJ · Member since 2014 · 123 posts · 43 votes
    11y

    Great job! It looks like a you did quite an extensive renovation as well. Are you a full time investor?

  • Investor · Philadelphia, PA · Member since 2013 · 185 posts · 97 votes
    11y

    Nice. The rehab looks great. This is inspiring, as my partner and I are considering getting into a flip this coming year to build cash reserves.

  • Real Estate Investor · Nashville TN · Member since 2009 · 287 posts · 171 votes
    11y

    @Ryan Billingsley thanks.   Just roll it into the pool of cash that I'll use to fund upcoming deals.  

    @Jon Lafferty yeah I am full time.  Did 22 this year and hopefully 25-30 next year.

    Thanks everyone

  • Rental Property Investor · Carlsbad, CA · Member since 2014 · 127 posts · 28 votes
    11y

    @Jonathan C. Agreed, very well done. Are you investing in the DC area or virtually elsewhere?

  • Investor · Smithville, MO · Member since 2014 · 160 posts · 19 votes
    11y

    The final product looks great!

  • Developer · . · Member since 2014 · 520 posts · 162 votes
    11y

    Loks great!

  • Investor · Baltimore, MD · Member since 2014 · 163 posts · 51 votes
    11y

    @Jonathan C.  This is very exciting and inspiring. Thank you for sharing.

  • Herndon, VA · Member since 2014 · 1k+ posts · 324 votes
    11y

    It looks great.  Where is the property located?

  • Investor · The Colony, TX · Member since 2013 · 283 posts · 205 votes
    11y

    @Jonathan C. Great job.  Looks awesome.  

  • Real Estate Investor · Nashville TN · Member since 2009 · 287 posts · 171 votes
    11y

    @Bruce Scannell just the DC metro area- northern VA, DC, southern MD. I still don't feel like I've tapped out the number of houses I can do here. I would only consider looking somewhere else if I felt like there was basically nothing left for me close by. It would be hard to invest somewhere else- I'd need someone I trusted 100% and who knew what they were doing in another market to be able to consider something like that. Most likely I'll just expand more North into MD if/when I need to... moving up towards Baltimore area.

    @Jesse T. it's brentwood MD

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