This was a fire house that the owners inherited from their mother, and it was not insured. The owners needed to get out because they did not have the funds to redo.
This was an emotional process, so we needed to use our skills of helping others to be patient and help them think through the process.
The owners finally reached back out after our initial evaluation of the home and what needed to be done.
We closed in less than 2 weeks with a private lender. This was our 2nd Flip, and it closed on June 7, 2022.
Purchased for: $32,500
Rehab and holding cost: $119,662.00
ARV: $198,000
Sold for $213,500
At signed contract we walked away with $5,000
At closing we walked away with $56,338.64
Made: $61,338.64
WE are busy!
3rd flip being rehabbed in Ayden we just got a renter out and our 4th under contract along with the sellers becoming a private lender with us. Cool Story!
Pour it on!
Hello Glenn and Kari,
Glad to read your story and good work on the successful deal. I am new to all of this and one day I hope to post my own success story on this page. Wow! over $61,000 in profit. That is great! I hope to do that soon.
Bye for now,
Robert
That is a cool story! It is awesome how we can use these skills to help others! Keep pushing!
Hello Glenn & Kari,
Congratulations and good job on the purchase! I am proud of you and your efforts. Glad to read that you made some good investing decisions and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Hi there Glenn & Kari,
How many other deals have you done since this one? It would be interesting to find out what other deals you have so we can all learn from your experience and perhaps use that knowledge to help ourselves make us successful. Take care.
Hello Glenn & Kari,
I am working on a deal right now and hope you are reading this comment so as to replying and giving me some words of encouragement, advice, and support. I sure could use it so that I too can be a successful investor! Maybe I’ll hear from you soon? Take care.