Case Study: 1612 Sw 22nd St, Blue Springs

1612-sw-22nd-blue-springs

This home was a HUD listed home offered for sale for $89,910.  We made several offers around $48,000 and our highest was $49,872. Which was rejected in favor of a higher bidder.  About 2 weeks later, we were emailed by HUD and told that because we had marked our offer to be kept in the system should the first buyer flake out (they have a term for this) we got the offer.

ALLMOST HALF PRICE – UNHEARD OF

We bought on April 8th and renovated from top to bottom.

The Numbers:

  • Purchase $49872
  • Renovation $56,340
  • Settlement Fees including Real Estate Commissions $12,964
  • Holding Costs $950
  • Total Days Held 98 days
  • Profit $19,772
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