Port Richey Flip | EquityPro

Port Richey Flip

3 bed / 2 bath1,443 sq ft Built in 1987Single Family

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This 3 bedroom, 2 bathroom Pasco County home was purchased by our investor for $114,900, utilizing $92,000 in hard money financing plus $37,000 escrowed for renovations. Total rehab costs were around $42,000 with the majority going toward interior updates.  Lender fees were $4400 with monthly interest payments of $1187.  The project took longer than anticipated which increased holding costs but our investor made up for it on the sale.  Our estimated ARV was $185,000, however the property sold in less than three weeks for $198,000 generating a net profit of $26,000.  Well done!