Following the post analysis and missed transaction opportunities () I am happy to share some information about Flip ...
I'm glad to share some information about the Flip I'm testing in Torrington, a suburb in Hartford, Connecticut where I buy a holding and manager as a housing unit 35.
I found a deal from Hollsiller on paper that seemed reasonable:
Private house with 5 bedrooms, office and 2 bathrooms, 64k purchase, 30k repair and sales forecast 125k-180k.
I came to the house with my contractor and we saw repairs in the building in the 50k area. I pressed the holsiller to 53k and purchased his fee and entered into the contract.
In the framework of DD:
Inspection - did not discover too many new things
Independent title search - through the attorney, came out clean
Municipality - There are no construction violations or environmental hazards
Realtors - Three realtors pointed to 150 as a reasonable target price for a reasonably renovated home (Net believes I will be left with 135 in hand)
Professionals - electricians, plumbers, sequences independently visited the house and gave price estimates that matched the budget I formulated
Advantages:
A quiet suburb with a relatively affluent population
Attractive price allows flexibility in the quality of renovation if something goes wrong
Renovation relatively simple and fast, do not break walls
Expected 25-35% profit within six months
Cons:
The apartments are empty in the center of the town, poor access to highways, taxes above the average, proximity to the river requires the buyer to flood insurance, the driveway with the neighboring house. Seasonality: The house must be put up for sale until mid-July so as not to fall into autumn.
Moving on, we'll update when we close
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What is her average Dom? When were properties sold there at this price? 1 mile is a lot…
Sounds like everything is good except for a location that is perhaps the most significant parameter that will ultimately determine whether you will make 25 per cent per year or 25 in three years ....
Check how long transactions are closed in the above space
Successfully
Successfully