Flipping Portfolio

Cash flow may be the path to sustained wealth, but flips can provide the capital to get you there! Each flip is unique and comes with its own set of challenges, but putting the systems in place to minimize the effect as much as possible is critical to maximizing your profits.

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Gastonia Flip - Belfast

Status: Under Contract

Result/Profit: TBD

Purchase Price: $60,000

Estimated Rehab: $30,000

ARV: $132,000

Estimated Rehab Time: 4 weeks

Bed/Bath: 3br/1ba

List Price: $60,000

Close Date: September 24, 2020

Source of Deal: Wholesaler

Funding Source: Hard Money

Size: 1,050 sqft

DETAILS

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 needs a new roof and the interior needs to be brought into the 21st century (as do the awful window and patio overhangs), but with some lipstick this is going to make for a beautiful finished product!

Kannapolis Flip - Newell

Status: In Progress

Result/Profit: TBD

Purchase Price: $92,000

Estimated Rehab: $40,000

ARV: $194,000

Estimated Rehab Time: 4 weeks

Bed/Bath: 2br/1ba

List Price: $102,000

Close Date: August 13, 2020

Source of Deal: MLS (FSBO)

Funding Source: Private Lender

Size: 1,254 sqft

DETAILS

It's hard to put a finger on the most exciting aspect of this property...is it the spacious floorplan? The opportunity to convert 200+ sqft to a third bedroom, second bathroom, and more than 1,500 sqft house? The detached shed/workshop filled with treasures? Or the additional parcel of land that came with the house? Hard to say, but this is a first flip to remember!

Properties Under Contract