Welcome to my favorite flip yet!

 

I met the owners of this house while I was flipping Ferstl number one and found out that they were going to be retiring and moving out of state. We stayed in touch, and once they had the movers scheduled I got the call, and we quickly came to an agreement on the purchase price! 

 

If you look at the blog post that I wrote about Ferstl number one, you’ll see that I was frustrated with how the work turned out. It wasn’t a flip that I was absolutely thrilled about, so I made sure that I did the right thing on this one. As a result it turned out beautifully, and it was also incredibly profitable! The previous owners were thrilled to see what the finished product look like and so was I!

PURCHASE DETAILS

Purchase Price: $130,000

Closing Date: July 29, 2021

Source of Deal: SMS Marketing 

Funding Source: Hard Money

Size: 1,100 sqft

Estimated Rehab Time: 5 weeks

Estimated Rehab Cost: $50,000

Estimated ARV: $250,000

Bed/Bath: 3br/1ba

 

SELLING DETAILS

List Price: $279,000

Sale Price: $285,000

Close Date: December 1, 2021

Total Flip Timeline: 126 days

Actual Rehab Cost: $72,870

Holding Costs/Fees: $34,227