The Numbers:
Purchase for $82,000 through a local bank contact.
Sold for $227,000
- Paid $ 5500 of buyers closing costs
- Paid $13,620 in Real Estate Commisison
- Paid $92,000 in Renovations Approximately
- Paid $3,000 in Holding Costs Approximately
- Paid $1,000 in Settlement Fees Approximately
- Owned for 200 days
- Profit $30,000 Approximately
- Note exact figures are in a computer that has long since retired and we are working from memory on these numbers
This home was in need of a complete and total rehab including foundation repairs, rebuilding of walls, windows, siding, roof, concrete patio, new floors and did we mention it smelled so bad you could not spent to long in the house. We estimated repairs at about $80,000.
We blogged this entire rehab:
- Watch our PV Rehab
- PV Delays
- Tree Issues
- Siding Issues
- Roof Inspection
- Patio Cracks
- Interior Room Addition
- The Garage
- Living Room Ideas
- Kitchen Issues
- Assessing the 1st Floor Bedrooms
- Interior Doors
- What the Basement Needed
- Bathroom Assessments
- Electrical Issues
- Foundation Concerns
- Furnace & Hot Water Heater
- Hardwood Floors
- Assessing the Upstairs Bath
- Looking at the Master Bedroom
- Boy do we need a roof
- What do we do with pink siding?
- Bids on the Hardwood Floors
- Week #1 Chimney and Trees
- Week #1: Roof & Demo
- Week #1: Rebuilds
- Week #2
- Week #3: Written Summary
- Week #3 – Part 1
- Week #3 – Part 2 Room Addition
- Week #3 – Part 3 Bathroom Framing
- Week #4
- Week #5 – Christmas Week
- Week #6 – New Years Week
- It’s Done