OfflineClosed on project # 78, this Buy, Fix & Flip is a 2 Bed/1 Bath/car Port home with around 1100 sq. ft. Will do a quick clean up & paint inside & out, should take about 2 weeks.
Bought for $ 35,000; a few hundred for painting materials & should be able to sell it for 45K to 47K.
Bought it from an investor who paid $ 61K, wanted 45K; agreed upon 35K & they held the mortgage with 5K down; 5 yr. balloon, amortized over 30 yrs. @ 8% APR.
We could always used it as a rental @ $ 600/month; insurance is about $ 825/yr. & taxes are $ 503/yr. That would be about $ 490/month positive cash or about
$ 5880/yr.
I guess Jill & I will start working on it tomorrow. Thanks, Gary
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way to go keep on keeping on. all the best.
WALT
Sorry you guys aren't able to get to the Edge since you can't fly and it is so far to drive from FL, but you sure were making good use of your time!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Thanks Walt, always have to keep moving forward!
It's always exciting to read about your deals!! Congrats on your #78!! Wow!!!
Val
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
It would have been great to be able to make it out there for the Edge!
Yes, we can't let any grass grow under our feet, we closed on Tues. at 3:30;
changed the locks at 5:00; & Jill cleaned off the roof while I cleaned the gutters, she prepped the inside for painting & I pressure washed the entire house, screen room, shed & driveway.
Now if the rain holds out we'll start the painting the outside today!
Thanks Valerie, it was great seeing you on DG.com on Dean's Weekly Wisdom ... wonderful to put a face with all the great posts!
Last summer I spoke at several of Dean's live events all around Florida,
it was amazing the ENERGY in the room, especially when talking to people one on one during the breaks.
Glad you had such an awesome experience at the Edge!