🚧 Exciting Project Update! 🚧 · Don't Buy Real Estate

Oct '24 (edited) • Fix n' Flip

🚧 Exciting Project Update! 🚧

We're teaming up with a contractor for a new project!

Here's the scoop:

Property Acquisition: $1.2 million (with $32k in fees)
Budget: $125k for renovations (the contractor is covering costs in exchange for 20% equity)
Monthly Mortgage Payment: $7,800
Timeline: Currently in Week 3 of 10 weeks
Projected Sale Price: $1.65 million by the end of January at a 5% commission

While this isn't a flashy deal, it’s a solid investment. We'll fully stage the property and make it available for short-term rentals on Airbnb throughout December.

We did this last year, and it really helped with holding costs during the slower season.

Attached are the plans and some recent photos.

Can anyone calculate the returns using the spreadsheets I sent out earlier this week?

Thanks!

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