North Dallas Flip
Description
This was a purely cosmetic flip of a high end home built in 1990. Great curb appeal and bones. Just needed new everything inside. This was executed well, and planned on selling for $725k. We had a full price offer in the first few days on the market, and then the buyers pulled out during the option period because they couldn’t fit a pool in the backyard. Went back on the market and had to sell for $675k after waiting 3 months. We cut out our commission in order to help the investor offset the lower sales price.
The Numbers
- ROI - -7.32%
- IRR - -12.54%
- Net Loss - -$11,433
- Sale Price - $675,000
- Purchase Price - $515,000
- Rehab Cost - $110,000
- Soft Cost - $36,458
- Selling Cost - $24,975
- Total Cash Invested - $156,250
- Time (months) - 7
Interested in this deal?
Call Brandt Barham at 469-531-4131.