We have the property under contract.
More Video to come shortly.
- Purchase + Rehab + Holding (total all-in): $443,000
- Renovation duration: approx. 6 months.
- Project duration (closing to closing): 8 months
- Projected selling price: $675,000, but for analysis, $625,000 used
- Projected net profit to investor(s) (before taxes; after profit share): $94,806
- These are projections, not guarantees
- Answer needed: ASAP
- Signed docs: 5/25/17
- Submit non-refundable deposit: 5/26/17
- Fund project account: 5/27/17
- Purchase-closing: 6/1/17
- Planned purchase-closing: 8 months
- Reno start: Depend how deal is funded
- Reno duration: 180 days
- Planned listing date: TBD
Your Next Steps:
- Best to post your questions below in the comment section (or email firstname.lastname@example.org)
- 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 $250,000
- Comps in the area range from $593,000 to $710,900
- Waiting on final rehab figures, but current estimate is $170,000 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: $675,000
- 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:
- Home was built in 1900 and is 3,357 sq. ft.
- 3 Beds 2 and half baths
- House already gutted and drywalled for rehab with some work done
- Formal Dining Room
- Tons of Natural Light
- Original Butler’s Pantry
- Pocket Doors
- Exposed Brick Throughout
- The home is a classic but needs to be updated for a modern buyer
After Renovation, the House will feature:
- 5 Beds and 5 and half baths
- New Master Bed Bath Suite
- Remodeled kitchen with new appliances
- Open modern floor plan with all new paint and updating
- All bathrooms remodeled
- Beautifully Restored Front Porch
- New Detached Garage
- Painted exterior and new landscaping
Herron-Morton is one the most desirable neighborhoods in Indianapolis. It is one of the few places that someone can get this much square footage close to downtown. It also is very close to Broad Ripple and Massachusetts Ave, which host the most restaurants and shopping outside of downtown. You can walk tree lined streets to dine at some of the best restaurants in town.
|Estimated Renovation & Holding||$170,000|
|Prop Taxes, Insurance & Staging||$5,500|
|Target Selling date||1/27/2018|
|Target selling price||$625,000|
|Simply Do It (Facilitator)||23.0%||$32,516|
|Investor’s Return On Investment (ROI)||17.55%|
Status Price MLS # Address Bed/Bath Sqft Year Basement