Preston Hollow Flip
Description
This was a pretty extensive flip. Lots of work done to this 1960s ranch. New: HVAC, ducts, knocked out a wall, windows, cabinets, kitchen, all bathrooms, texture and paint on all surfaces, 8’ board on board fence, all new electrical and plumbing, and more. We had planned on a $100k remodel and it ran up to $125k. We had planned on a $575k sales price and sold for $590k. Overall it was a great project.
The Numbers
- ROI - 38.86%
- IRR - 77.72%
- Net Profit - $47,120
- Sale Price - $590,000
- Purchase Price - $360,000
- Rehab Cost - $125,000
- Soft Cost - $24,250
- Selling Cost - $33,630
- Total Cash Invested - $121,250
- Time (months) - 6
Interested in this deal?
Call Brandt Barham at 469-531-4131.