Poinciana Flip

Poinciana Flip

3 bed / 2 bath 1673 sq ft Built in 1983 Single Family

Updated properties in Poinciana never stay on the market too long, and our investor proved this was the case with this stellar flip.  Our investor purchased this 3 bedroom, 2 bathroom single family home through EquityPro for $124,900.  He completed a full interior cosmetic rehab and updated the exterior with a new paint job and new roof for a total of $35,000.  He had an additional $16,600 in closing costs, utilities, commissions, and a $1,000 lien against the property that our investor satisfied at closing.  At the time of listing this property for retail sale, the highest comp in the area was $180,000.  However, our investor decided to push the envelope since this property was completely updated and listed the property at $199,900 which was also EquityPro's estimated ARV.  In only 14 days, this property went pending for $10,000 over list price and sold at $210,000, generating a net profit of $38,500.  Great job on this successful flip!

Financial details
Investor price $119,900
Rehab costs $35,000
Other expenses $16,600
Days on the market 14
Sold price $210,000
$38,500
Profit
22.45%
ROI