I am curious as to, what type of profit ya’ll have made from your Rehabs. I mostly want to know what profit has been made from Rehabs that were totally cosmetic, requiring a month or less of work with low repair costs. Also how long does it usually take for your properties to sell? And do you FSBO them or use an agent?
Edited to add…
What type of financing do ya’ll use?
I just sold a rehab that I have owned for 3 months. Working on weekends and some evenings. Replaced roof, windows,Kitchen cabinets, new hardwood floors, carpet, paint, bathroom vanities, everything was redone inside except for the furnance - A/C, and water heater.
Found a buyer selling it FSBO within two weeks of placing a sign in the yard. The house closed within 1 1/2 weeks from the time the purchase agreement was signed. I wish all deals were the smooth.
Purchased for 115,000
Rehab cost 25,000
Sales price 180,000
Profit 40,000
Could you tell me how most deals go. Also what percentage should we look at as far as closing costs and the buyers realtor fee’s?
Thank you.