- Purchase + Rehab + Holding (total all-in): $213,550
- Renovation duration: approx. 4 months.
- Project duration (closing to closing): 6 months
- Projected selling price: $305,000
- Projected net profit to investor(s) (before taxes; after profit share): $37,716
- These are projections, not guarantees
- Answer needed: ASAP
- Signed docs: TBD
- Submit non-refundable deposit: TBD
- Fund project account:TBD
- Purchase-closing: TBD
- Planned purchase-closing: 6 months
- Reno start: Depend how deal is funded
- Reno duration: 120 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, and approx. how much you have available to invest in this flip.
- Let us know which financing option (see below) is most relevant for you and approx. how much you have available.
- All flips are eligible to be converted to long-term rentals; contact SDI for more details.
- As always, this flip is first come, first serve.
High-level Details About Flip:
- The purchase price is $105,000
- Comps in the area range from $290,000- $380,000
- Waiting on final rehab figures, but current estimate is $85,000 including holding costs
- Goal selling price is: $305,000
- This deal only lasts a short amount of time. Purchasing from a private source that has other parties that want the property, but promised it to us first. It is not listed on the MLS or anywhere else for sale.
There are variety of buying and financing options. The main ones are:
- 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.
Let us know in case you are not sure about which is relevant one for you.
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 1911 and is 3,537 sqft
- 4 Beds 2.5 baths
- Formal Dining Room
- Natural Hardwood Floors
- Plenty of Natural Light
- The home is a classic but needs to be updated for a modern buyer
- A lot of the unseen & costly rehab work is done already
After Renovation, the House will feature:
- 4 Beds and 3 full baths 1 half bath
- Updated Master Bed Bath Suite
- Remodeled kitchen with new appliances
- Open modern floor plan with all new paint and updating
- All bathrooms remodeled
- Painted exterior and new landscaping
- Building detached garage
Meridian Historic Park (historicmeridianpark.org) is one the most sought after neighborhoods in Indianapolis because of it’s location 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 are also walking distance to the Children’s Museum, which is rated #1 in the United States. Developers and builders have bought hundreds of lots around this area to build new homes which is driving a trend of increased pricing. The 46205 zip code is now experiencing the one of the largest annual increases in home values in Indiana. It is the ideal circumstance for investors to do renovations in this environment.
|Estimated Renovation & Holding||$85,000|
|Prop Taxes, Insurance & Staging||$7,500|
|Target Selling date||2/14/2018|
|Target selling price||$305,000|
|Simply Do It (Facilitator)||21%||$14,401|
|Investor’s Return On Investment (ROI)||17.66%|
3043 N Pennsylvania St.
3302 N Washington Blvd
3054 N Pennsylvania Street
3140 N Delaware St
210 E 33rd St