82% ROI on a 8 week fix & flip

[Jack Clough]

Investment Info:

Single-family residence fix & flip investment in Wilmington.

Purchase price: $44,501
Cash invested: $13,300
Sale price: $129,900

Quick flip, rehab time was 3 weeks, just needed clean out, new flooring on first floor and carpeting through stairs and 2nd floor, Property was built in 95 and has a full basement with French drain and newer utilities. We also painted all walls and ceilings, changed out vanity in bath, repaired deck. Listed at 129,900 and sold in 1 week at the asking price. Net profit after commissions and transfer tax will be $55,693, or 82% ROI.

What made you interested in investing in this type of deal?

The numbers. I originally thought the ARV was about 100k and purchased the property based on that potential. The comps in the area were all at 95k but the difference was that we were the only block that is not in the flood zone. This raised our projections and my realtor proved to be right with his suggested list of 129,900.

[Jay Hinrichs]

Boy that is a great one !!  can you duplicate or was this a screaming deal that would be hard to duplicate?

If you can duplicate I would refrain on posting about these.. you will create your own competition LOL