House #51 – Short-Sale Rehab & Flip

Another sale was completed yesterday!

House #51 was one of those weird deals.  I liked the house a lot and thought it would sell really quickly.  It was a 4 bedroom, 2 bathroom house and priced competitively.  We got a decent amount of interest at the start and even a couple good offers.  But it all came down to the same thing.  The buyers wanted a garage.  The previous owners of this house converted the garage into a master suite with a bedroom and a bathroom (and did a pretty good job of it).

We sold it and we were profitable, but the margin was about 30% off of the original projection most because we had to lower the price and up the buyer’s agent commission to get it sold.

The funny thing about real estate is, sometimes the “slam dunk” deals take extra work and the “border line” deals turn into gold-mines.  A couple of the houses the houses that originally seemed like marginal deals turned out to be great ones.  Luck can really play a factor because all it takes is one buyer that loves the house and you can get it done.

As you can probably tell from the above pictures we kept the existing tile that was pretty much in every room of this house.

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One Response to “ House #51 – Short-Sale Rehab & Flip ”

  1. […] Rehabbing Homes: Why Everything Doesn’t Go According To Plan At Times Posted by: stan | Category: Flipping Houses, Real Estate Investing, Rehabbing Houses, Short Sales […]

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