After we have been in business on year (Sept – 08 to Sept 09), I made a post that summarized our results. I will post similar numbers for Jan 1-09 to Dec 31-09.
2009 was a great year for us.
Nine of them where retail flips.
Total Sales Price: $1,736,00
Total Purchase Price: $743,00 (avg $82,555)
Rough Remodel Expense: $365,00 (avg $40,555)
Purchase Price & Remodel: $1,108,000
ARV Percentage: 63.8%
Avg Hold Time: 183 days
Total Purchase Price: $315,300
Total Sales Price: $345,50
Rough Remodel Expense: $0
Purchase Price & Remodel: $315,300
Purchase Percentage: 91.3%
Avg Hold Time: 3 days
For the 6 Units that are rented:
Total Purchase Price: $457,000
Rough Remodel Expense: $118,500
Purchase Price & Remodel: $575,500
Total Appraised Value: $884,100 (due to the recent market conditions we could sell for more than appraised value)
Purchase Percentage: 65.0%
Total Monthly Rent Collected: $8,100 ($97,200 yearly)
Now the important part, what we are aiming for next year.
The goals seem simple enough, but that is definitely a years full of work! Wish us luck. Don’t forget to write down your 2010 goals and look at them often. I’ve had a paper hung on my office wall with these goals for the last two months.