55k Profit on our recent FLIP in under 5 months! Check out the before and after pics!

By
Services for Real Estate Pros with Heaton Dainard

 

Hi Active Rain Community!  I wanted to share some of our recent flips with you.
This was a split-level home purchased by an investor in Bothell, Washington.  Our team helped them acquire the property, finance it, flip it and sell it.

What happened...

·Acquisition Price: $170,000

·Actual Fix up: $65,000

·Selling Cost: $25,200

 ·Sale Price: $315,000 

Net Profit: $54,800!

·Time Spent: 6 Months

Click here for pictures of the whole project and let us know what you think of the rehab:

https://picasaweb.google.com/112506832239218751378/BothellSplitLevel 

Check out our website: www.heatondainard.com

 

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Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Washington King County
Groups:
Puget Sound - WA Real Estate
REO EXCHANGE
Tags:
king county
real estate investment
rehab
reo properties
flipped property
seattle flip
wholesale properties for sale

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Ambassador
1,893,239
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Did you have any carrying costs for the 6 months?   I'm in the middle of my 3rd rehab project with a client and we try to finish them in 30-45 days to reduce our carrying costs.

 

Dec 28, 2011 09:57 AM #1
Rainmaker
1,181,060
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Heaton-very nice job, just goes to show you can still make money in this market if you know what you're doing.

 

Best

Dec 28, 2011 10:02 AM #2
Rainer
13,160
Amie Larsen
Exit Realty Legacy-The Lar Team - Salt Lake City, UT
Amie Larsen and The Lar Team

That's terriffic!  Have you done any properties in Utah?

Dec 28, 2011 10:48 AM #3
Rainer
16,107
Heaton Dainard
Heaton Dainard - Bellevue, WA

Hi Amie, we focus mainly on Washington state! I'll be updating weekly so subscribe and you can see more of our flips!

Dec 29, 2011 05:46 AM #4
Rainer
16,107
Heaton Dainard
Heaton Dainard - Bellevue, WA

Hi Cindy,

This investor paid all cash – so the carrying costs were minimal ie. Insurance, utilities and property taxes – $1500-$2000 total

Dec 29, 2011 05:49 AM #5
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Rainer
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Heaton Dainard

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