Marketplace examples - Flipped homes, Northwest Indiana.
Alright guys, I know my last post was a update on the current market of Merrillville Indiana, showing a few investment opportunities. And I will have a new list out for you in the next couple days, so be on the lookout for that.
But I realize that for those of you who are just feeling out the NWI market you need some examples, so here are a list of just a few homes that were flipped in the past year just in the town of Merrillville.
1) 715 W 67th Ln, Tri-level 3 bedroom 1.75 baths Was bought back on 09/08/15 for 68,000. It was a foreclosure that was on the market for 77 days. Was listed on 02/01/16 for 154,000 and sold 52 days later for 146,000.
2) 816 W 66th Pl, Bi-level 3 bedrooms 2 baths. Was bought on 11/17/16 for 75,000. It was a HUD property that was on the market for 22 days. Was listed for 174,900 on 01/12/17 and went under contract on 01/16/17.
3) 2927 W 76th, Ranch with a full basement 3 bedrooms and 1.5 Baths. Was bought on 11/02/15 for 75,000. Not a foreclosure but this one was a little different. They actually added a bathroom and an extra bedroom in the basement. But it sold back on 08/25/16 for 145,000 after being on the market for 58 days.
4) 920 W 67th Pl, Tri-level 4 beds 2 baths. Was bought on 06/29/16 for 75,000. It was a foreclosure on the market for 42 days. Was re-modeled an extra bedroom was added and sold for 159,900 after being on the market for 19 days.
5) 5451 Mary Ann Ln, Ranch with a full basement. This home was nasty, I was in and out of it probably a half dozen times, I tried to convince a few investors to grab it but no one wanted to pick it up. This HUD was on the market for 191 days and FINALLY sold at.... 39,333.00 (See my previous post on making offers on HUD properties). Well its back on the market now for 149,900 and went under contract in 11 days.
So if you are out there looking at a market where you can flip properties there is money to be made out here. Its just finding homes at the right price and having a Realtor that is willing to think outside the box, Being patient and offering low and keeping a watchful eye for new opportunities coming on the market, and watching out for homes that have been sitting and/or overpriced. Plus being creative with the design, (adding a bedroom or a bath, and/or finishing a basement etc. etc.)
Thanks again, and like I mentioned above watch out for that list of more investment opportunities that are available! I'll have that up by tomorrow or Friday.