Example Flip
Extensive repairs and cosmetic upgrades
6307 Scarletcrest Ln Memphis, Tennessee 38115
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3 Beds
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2.0 Baths
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1,970 Sqft
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84.94% Annualized ROI
Results
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Source
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Foreclosure
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Purchase Price
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$60,000
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Renovation Costs
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$39,258
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Development Fee
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$3,500
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Total Basis
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$102,758
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Purchase Date
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01/10/19
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Days Owned
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141
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Sales Price
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$148,000
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Closing Costs
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($7,400)
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Cost Basis
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($102,758)
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Soft Costs
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($4,125)
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Gross Profit
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$33,717

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Description
This home needed a lot of interior cosmetic repair and also needed a new roof. We were able to get everything done for a reasonable price of $40,000, or $20 per square foot.