West Akron Ohio
behind the numbers...
We purchased the property for $75,000, rehabbed the property for $26,598.73, and sold the property for $162,000. Once we add in utilities, closing costs, and taxes, ($14,304.60) we were all in this project for $115,903.33.
That's a net profit of $46,096.67
As an investor in this scenario (to make the numbers easy), let's say you had $100,000 invested in this project. We held this project a little longer than normal. It was 8 months from purchase to the close of the sale. At a ROI of 10% annually, you would've been paid back $106,666.67 for an 8 month investment.
That's a return of $6,667.67
We complete dozen's of these kinds of projects a year, along with picking up rental portfolios and commercial properties along the way. Start investing in real estate today!