Flip #2 - Belfast Flip

NET PROFIT - $25,247

 

What do you get when you combine a great wholesaler, an easy to work with hard money lender, and a rent ready house with good bones? A great deal! It needed a new roof and the interior needed to be brought into the 21st century (as did the awful window and patio overhangs), but with some lipstick this turned out to be a beautiful finished product!

PURCHASE DETAILS

List Price: N/A

Purchase Price: $60,000

Closing Date: September 24, 2020

Source of Deal: Wholesaler 

Funding Source: Hard Money

Size: 1,050 sqft

Estimated Rehab Time: 4 weeks

Estimated Rehab Cost: $30,000

Estimated ARV: $130,000

Bed/Bath: 3br/1ba

 

SELLING DETAILS

List Price: $145,000

Sale Price: $141,000

Close Date: January 8, 2021

Total Flip Timeline: 107 days

Actual Rehab Cost: $39,111

 

BEFORE

 

Ext Side Entrance
Hall
Kitch3
Kitch
Kitch2
Br3.6
Br3.5
Br2.3
Br2.2
Br1.6
LR4
Ba2
LR3
Br1.3

AFTER

 

Before Pictures

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