Flip #5 - Massapoag Flip

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NET PROFIT - TBD

 

Early on in my business I found the Statesville Duplexes where I was able to add massive value by subdividing the land into 3 separate parcels. With that in mind, I found a way to squeeze more juice out of this deal!

Similar to the Redwood Flip, this will be more of a wholetail with a little more rehab. I'll get the tenant out, do some basic repairs and renovation, and turn around and sell to an investor.

 

But in between, I'll subdivide the lot and hold onto a .3 acre parcel. I can either sell, or more than likely I'll hold onto it. It is zoned such that I could build a duplex on it if I chose to, so there is considerable value in the land as the city of Lincolnton grows over the coming years

 

BEFORE

 

PURCHASE DETAILS

List Price: N/A

Purchase Price: $55,000

Closing Date: June 22, 2021

Source of Deal: Wholesaler

Funding Source: Hard Money

Size: 1,003 sqft

Estimated Rehab Time: 2 months

Estimated Rehab Cost: $15,000

Estimated ARV: $115,000

Bed/Bath: 2br/1ba

 

SELLING DETAILS

List Price: TBD

Sale Price: TBD

Close Date: TBD

Total Flip Timeline: TBD

Actual Rehab Cost: TBD

 

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AFTER - TBD

 

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