Below is the investor’s portfolio outlining the details of the property and the flip project.
We have the property under contract.
Video coming soon.
- Purchase + Rehab + Holding (total all-in): $218,550
- Project duration (closing to closing): 7 months
- Projected selling price: $320,000, but all comps have much less square footage
- Projected net profit to investor(s) (before taxes; after profit share):$44,358
- These are projections, not guarantees
- Answer needed: TBD
- Signed docs: TBD
- Submit non-refundable deposit: TBD
- Fund project account: TBD
- Planned purchase-closing: 6 months
- Reno start: 6/10/17
- Reno duration: 4 months
- Planned listing date: 11/10/17
Your Next Steps:
- Best to post your question 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 $67,000
- Comps in the area range from $250,000 to $350,000
- Waiting on final rehab figures, but current estimate is $135,000 including holding costs.
- Currently the property is under contract for a land trust and could be transferred to the buyer’s name (investor’s name) or investor/s will join as beneficiaries of the trust.
- Goal selling price is: $355,000
- 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.
- We buy it using conventional financing that can finance both purchase and rehab – we have such a mortgage resource for you (we must be prepared to close with funds independent of the conventional financing and get reimbursed by lender funds).
- 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:
- 6 bedrooms, 2 bath
- Home was built in 1910 and is 4,925 sq. ft.
- The house is a duplex that we convert a large single family home.
- Currently house has 4 levels: basement, main level, 2nd floor and a usable space in attic.
- Detached garage
- It’s difficult to find this much square footage close to downtown.
After Renovation, the House will feature:
- 5 bedrooms and 3.5 bathrooms, including a master bed/bath suite
- Remodeled kitchen with new appliances
- Newly restored hardwood throughout the home
- Master Bedroom/Bath Suite
- Newly remodeled loft
- Painted exterior and new landscaping
- House will have a beautiful open floor plan after renovation
|Estimated Renovation & Holding||$135,000|
|Prop Taxes, Insurance & Staging||$5,500|
|Target Selling date||1/1/2018|
|Target selling price||$315,000|
|Simply Do It (Facilitator)||23.5%||$16,914|
|Investor’s Return On Investment (ROI)||17.79%|
Status Price Address Bed/Bath Sqft Yr Basement