Successful Flip Completed

[John Lodge]

This one was a deceaed estate on an ex state (government) house built in 1961 but with good bones. It needed new kitchen, new bathroom, paint inside and out, new kitchen, new floor coverings, new fence and small roof repair.

Deal was structured as follows:

$301,500 purchase price

$20k down

immediate possession

6 months to pay the balance

$45,000 repair and closing costs

$425,000 sale price

sale achieved 3mos 1 week after possession (was help up due to xmas)

$78,500 net profit