We are beyond excited here – I mean we ran around like chickens with no heads to get it all done and ready to list and then we had to wait. I don’t know what was worse, the running around or the waiting!
There was a A LOT of interest in the property – I believe there were about 11 showings in 14 days. Paul received his first offer this past Tuesday night, by Wednesday at noon they had a signed contract and by about 8pm last night all of the conditions were waived and it was a done deal!
I know, I know you are dying to know if the financial part of the flip was as successful as the renovation part :) Well I don’t have exact numbers to share – I haven’t had time to sort through all of the receipts! - but I can tell you this…
The original purchase price was $148000
Renovations were approximately $10000-$13000
Total profit (taking all real estate fees into consideration) approximately $12000-$13000
Not bad! Paul is happy to have this flip over and done with. We are happy to have the experience which turned into a really great success story. I don’t know about Vanessa, but I am eager to start on the laundry room and to keep my eye open for our first flip :)