We have the property under contract.
- Purchase + Rehab + Holding (total all-in): $141,800
- Project duration (closing to closing): 4 months
- Projected selling price: $190,000
- Projected net profit to investor(s) (before taxes; after profit share): $19,718
- These are projections, not guarantees
- Answer needed: TBD
- Signed docs: TBD
- Submit non-refundable deposit: TBD
- Fund project account: TBD
- Planned purchase-closing: 4 months
- Reno start: 5/1/17
- Reno duration: 30 days
- Planned listing date: 6/15/17
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 $100,000
- Comps in the area range from $191,00 to $260,000
- Waiting on final rehab figures, but current estimate is $27,000 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: $190,000
- 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:
- 3 bedrooms and 1/2 baths
- Home was built in 1924 and is 1,812 sq. ft.
- The house requires very little rehab compared to most of our projects
- The home is in good condition but needs to be updated for our targeted buyer
After Renovation, the House will feature:
- Remodeled kitchen with new appliances
- Open modern floor plan with all new paint and updating
- All bathrooms remodeled
- Newly restored hardwood floors
- Painted exterior and new landscaping
The property is currently occupied by tenants. We will push closing per seller to 30 days after physical inspection scheduled for 3/14/17.
|Estimated Renovation & Holding||$27,000|
|Prop Taxes, Insurance & Staging||$3,500|
|Target Selling date||6/15/17|
|Target selling price||$190,000|
|Simply Do It (Facilitator)||25%||$8,963|
|Investor’s Return On Investment (ROI)||13.91%
|Price||Address||City||Beds||Baths||Sq Ft||Yr Built|
|Active||$260,000||4019 Carrollton Ave||Indianapolis||3||1/1||2,751||1912|
|Sold||$191,000||4321 Guilford Ave||Indianapolis||3||2||2,266||1920|
|Sold||$198,500||4325 Guilford Ave||Indianapolis||3||1/1||2,369||1920|
|Sold||$350,000||2353 N College Ave||Indianapolis||3||2/1||3,392||1900|
|Sold||$335,000||2337 North College Avenue||Indianapolis||4||3||4,331||1924|
|Sold||$370,000||1808 Carrollton Avenue||Indianapolis||4||3/1||3,304||2016|
Taken by Simply Do It’s on the ground team on 3/8/17