Flip Diary #3 - Western NC Mountain House Rehab
My last flip (see diary here) finally wrapped up a month or so ago and is now on the market, so its time to start another. This house is in the beautiful Blue Ridge Mountains in a small town called Waynesville NC. It has a view to die for and has a nice layout, so it should be a good one. Here are some numbers:
3 bed 3 bath 1300sf with big finished basement that will add another 1200 of so sf
Purchase Price: $109,900
Rehab Estimate: $48k
Acquisition/Holding Cost Estimate: $11,000
ARV: $225-250k
I just closed on this one late last week and am hoping to be done in about 3 months. Here are some pics: