Sale Price: $649,000
Net Sale Price: $604,296
Purchase Price: $375,000
Fix-Up Cost: $136,808
Net Profit: $92,488
ROI: 18.07%
Annualized ROI: 33.10%
199 days held
This probate property with court confirmation was purchased at auction issued by a probate judge. H&H was able to successfully bid and close on this property that was neglected for over 25 years. With holes in the roof and flooring, mold, foundation issues, a collapsed porch, and a multitude of
other issues, H&H was able to gut the property and reinvigorate this home to its former glory with a contemporary interior. With only a $125,000 contractor price, H&H was able to create a property with multiple bids in a highly sought after area known as View Park.
A full remodel down to the studs was finished in about four months, and the property was disposed of in 199 days after purchase. An 18% return in simple interest, but a 33% return when annualized, created a fabulous return with much lower risk due to the reasonably short holding period.