For some time now I have been telling you that Homes are selling for less than cars these days!! Here are some "Real World" transactions that have taken place recently for which I have information on that I can share with you. I MUST say that these results may or may not be typical of your own transaction and each transaction varies and is unique. These examples are "Real world" examples of real transactions for which purchasers have purchased homes and "Flipped them for a profit!"
1.) BANK OWNED FORECLOSURE IN SOUTHFIELD
-AMOUNT BANK OWNED IT FOR: $103,473
-PREVIOUS SALE (PRIOR TO FORECLOSURE) $230,000 IN 2003
-ACQUISITION PRICE: $28,000
-REHAB COST: $42,000
-TIME TO FLIP AND CLOSE: 95 DAYS
-SALE PRICE AFTER REHAB: $140,000
-NET PROFIT AFTER SALES EXPENSES AND REHAB: $63,000
*TOTAL IN $70,000, TOTAL OUT IN 95 DAYS: $63,000!
2.) BANK OWNED FORECLOSURE IN SOUTHFIELD
-AMOUNT BANK OWNED IT FOR: $146,894
-PREVIOUS SALE (PRIOR TO FORECLOSURE) $234,000 IN 2006
-ACQUISITION PRICE: $83,000
-REHAB COST: $20,000
-TIME TO FLIP AND CLOSE: 164 DAYS
-NET PROFIT AFTER SALES EXPENSES AND REHAB: $41,000
-SALE PRICE AFTER REHAB: $151,000
*TOTAL IN $103,000, TOTAL OUT IN 164 DAYS: $41,000!
3.) BANK OWNED FORECLOSURE IN LATHRUP VILLAGE
-AMOUNT BANK OWNED IT FOR: $125,600
-PREVIOUS SALE (PRIOR TO FORECLOSURE) $206,900 IN 2005
-ACQUISITION PRICE: $67,000
-REHAB COST: $17,000
-TIME TO FLIP AND CLOSE: 117 DAYS
-NET PROFIT AFTER SALES EXPENSES AND REHAB: $42,000
-SALE PRICE AFTER REHAB: $140,000
*TOTAL IN $84,000, TOTAL OUT IN 117 DAYS: $42,000!
4.) BANK OWNED FORECLOSURE IN WEST BLOOMFIELD
-AMOUNT BANK OWNED IT FOR: $173,700
-PREVIOUS SALE (PRIOR TO FORECLOSURE) $187,900 IN 2005
-ACQUISITION PRICE: $76,000
-REHAB COST: $23,000
-TIME TO FLIP AND CLOSE: 164 DAYS
-NET PROFIT AFTER SALES EXPENSES AND REHAB: $50,000
-SALE PRICE AFTER REHAB: $165,000
*TOTAL IN $99,000, TOTAL OUT IN 164 DAYS: $50,000!
5.) BANK OWNED FORECLOSURE IN BLOOMFIELD TOWNSHIP
-AMOUNT BANK OWNED IT FOR: $259,500
-PREVIOUS SALE (PRIOR TO FORECLOSURE) $216,900 IN 2000
-ACQUISITION PRICE: $90,000
-REHAB COST: $7,000
-TIME TO FLIP AND CLOSE: 87 DAYS
-NET PROFIT AFTER SALES EXPENSES AND REHAB: $34,000
-SALE PRICE AFTER REHAB: $153,595
*TOTAL IN $97,000, TOTAL OUT IN 87 DAYS: $34,000!
AND THERES MORE! GET AHOLD OF ME ASAP FOR MORE EXAMPLES: MAKE YOUR FORTUNE NOW!
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