We have the property under contract.
- Purchase + Rehab + Holding (total all-in): $229,550
- Project duration (closing to closing): 6 months
- Projected selling price: $320,000
- Projected net profit to investor(s) (before taxes; after profit share): $38,308
- These are projections, not guarantees
- Answer needed: TBD
- Signed docs: TBD
- Submit non-refundable deposit: TBD
- Fund project account: TBD
- Planned purchase-closing: 7 months
- Reno start: 4/28/17
- Reno duration: 120 days
- Planned listing date: 8/30/17
Your Next Steps:
- Best to post your question below in the comment section (or email email@example.com)
- Let us know if you are interested to participate.
- Let us know which financing option (see below) is most relevant for you and approx. how much you have available.
High-level Details About Flip:
- Offer has been accepted and is under contract.
- The purchase price is $135,000
- Comps in the area range from $272,500 to $325,000
- Waiting on final rehab figures, but current estimate is $78,000 including holding costs.
- Currently the property is under contract for a land trust and will need to be transferred to the buyer’s name (investor’s name)
- Goal selling price is: $335,000
- As always, this flip is first come, first serve.
- All flips are eligible to be converted to long-term rentals; contact SDI for more details.
- You buy it solo cash / private loan and rehab with cash.
- Close with cash and use lender funds to rehab. We have such a mortgage resource for you.
- We partner you up with one or more Simply Do It investor(s) using one of these methods.
- Funds can be invested in the form of cash and retirement funds.
About Land Trusts:
It’s a way to hold real estate with much more simplicity than an entity or LLC and requires a trust agreement, beneficiaries’ agreement, appointment of trustee and appointment of director. These documents will be provided to the investor(s) who participate in this flip.
House currently features:
- 2 Bedrooms, 1 Office/ Recreation Room, 1 Full Bath, and 3 Half Baths
- Home was built in 1915 and is 3,244 sq. ft.
- The original 1915 wood work on the first floor entry and dining room is beautiful
- The home is in good condition but needs to be updated for our targeted buyer
After Renovation, the House will feature:
- 3 Bedrooms, 1 Office/ Recreation Room, 2 Full Baths, and 3 Half Baths
- Remodeled kitchen with new appliances
- Open modern floor plan with all new paint and updating
- All bathrooms remodeled
- Restoration of front porch
- New back deck
- Newly restored hardwood floors and other original wood work
- Painted exterior and new landscaping
- Detached Garage
- One block away is St Joan of Arc.
- It is the one of the best Catholic Schools in Indianapolis.
- The are many newly renovated homes on this street, and the others are in good condition.
- This is a very desirable place to live.
- The location, and the magnificent original 1915 wood work will sell this home.
|Estimated Renovation & Holding||$78,000|
|Prop Taxes, Insurance & Staging||$4,500|
|Target Selling date||9/15/2017|
|Target selling price||$320,000|
|Simply Do It (Facilitator)||24%||$16,716|
|Investor’s Return On Investment (ROI)||16.69%|
|$272,500||Pending||413 East 40th Street||Indianapolis||3||3||3,264||1922||Y|
|$325,000||Pending||4243 Central Avenue||Indianapolis||3||2||4,128||1920||Y|
|$292,000||Sold||3861 Ruckle Street||Indianapolis||3||3||2,946||1925||Y|
|$324,900||Sold||4502 CENTRAL Avenue||Indianapolis||3||3||3,222||1940||Y|