Grand Rapids Flipped Property

[Jake Thomas]

Investment Info:

Single-family residence fix & flip investment in Grand Rapids.

Purchase price: $112,000
Cash invested: $47,000
Sale price: $260,000

Contributors:
Randy Snyder

Bought this flip in downtown GR. It was probably one of the worst houses we have ever seen. The previous tenants had their water turned off so they were sh!tting in buckets and they left their dog at the home (dog has been safely rehomed). We ended up getting is sold right before COVID hit our state.

Initial investment: $112,000
Rehab costs: $47000
Sales Price: $260,000
Taxes and fees: $10,750
Profit: $90,250