Swan Drive Case Study

438 Swan Drive Breakdown

• Purchase Price $264,488
• Sold for $314,250
• Rehab Costs ($3,100)
• Investor Holding Costs ($16,055)
• Closing Costs ($5,607)
• Selling Commission ($5,700)
• Profit $15,296

Purchase Details:

We were able to sneak under the wire and get this property into contract just five days prior to the foreclosure sale date. We put together the Short Sale package (100% complete - not easy) in just two short days and submitted it to the lender and were able to stop the trustee sale the morning of the proposed sale!

Negotiated and closed the purchase for $264,488 in just 58 days. We then cleaned up the property, painted the inside and fixed the electrical issue, costing a total of $3100. We received an offer for $345K, but we didn't think it would appraise and didn't want to go beyond the 90 day FHA flip rule so we took the maximum allowable offer of $314,250 and closed 30 days later.