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 And Kari, thanks for the informative success story and the posting. Converting a firehouse was very inspiring and well worth reading. Keep on investing, moving forward and make us all proud of you. Take care.