well, they bought for $465,000, so they are down to $100,000 minus all expenses.
on the forum, lots and lots of questions about the price of the renovation. silence from the flipper. quite frankly, sounds like she’s still trying to figure it out. quite a number pointed out they wouldn’t have done so much (ie. lots of unneccessary improvemts that will prove costly.)
here’s the description of the improvements: “New roof, windows, bathrooms, kitchen, flooring, paint, doors, plumbing, carpet, appliances, recessed lighting, fixtures, electrical and more.” These guys also knocked down walls, re-did openings, delt with tree roots in the pumbling, and brand new fencing all around.
I’m guessing $70,000 for the renovation. that would only be a $30,000 profit at the current price. if the agent’s commission is 4%, that’s about $8000 in profit. less uncle sam and the governator’s taxation, we’re looking at $5000.
