Updated over 10 years ago on . Most recent reply
Most Recent Flip, $58K Profit, Pics and Numbers
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 one | 100 |
| Total cash to purchase | 18403.84 |
| Less whatever commission I received- with the admin fee of $395 taken off of the total commission amount | 0 |
| Cash to purcahse less commission (final total amount of cash invested to purchase) | 18403.84 |
| Add | |
| Rehab Costs | 66678.83 |
| Utility Costs @ 80/mo | 330.4 |
| Mist Costs @ $1K | 1000 |
| Total Cash Costs Not Including Interest | 86413.07 |
| Interest- subtract my Eagle unused interest payments from the interest reserve; add the interest payments I made for hard money | 4480 |
| 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 selling | 0 |
| Cash to seller plus any commissions I received (my net cash at sale) | 149757.36 |
| Net Profit | $58,864 |
| Return on cash | 65% |
| Annualized return on cash | 188% |
Most Popular Reply
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