Flip #4 - Redwood Flip

Redwood Cir Flip

NET PROFIT - $4,334

 

One of the most consistent lessons in this business is that there are no constants. My primary strategy is flipping, and I generally avoid equity partnerships these days.

 

This deal threw things for a loop. My friend & partner Alan and I were both sent this deal by a mutual friend, and we could either compete for it or we could take it down together. So we partnered on it.

 

Additionally, we could either do a huge rehab for a modest profit or we could clean it up and wholetail it to an investor for a slightly lesser profit (and less risk). Guess which route we're taking? 

PURCHASE DETAILS

Purchase Price: $56,000

Closing Date: Aug 20, 2021

Source of Deal: Wholesaler

Funding Source: Hard Money

Size: 1,050 sqft

Estimated Rehab Time: 1 weeks

Estimated Rehab Cost: $3,000

Estimated ARV: $100,000

Bed/Bath: 4br/1ba

 

SELLING DETAILS

Sale Price: $75000

Close Date: Aug 20, 2021

Total Flip Timeline: 124 days

Actual Rehab Cost: $1,526

Holding Costs/Fees:: $14,139

 

BEFORE

 

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AFTER - TBD

 

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