Preston Hollow Flip

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Description

This was a pretty extensive flip.  Lots of work done to this 1960s ranch.  New: HVAC, ducts, knocked out a wall, windows, cabinets, kitchen, all bathrooms, texture and paint on all surfaces, 8’ board on board fence, all new electrical and plumbing, and more.  We had planned on a $100k remodel and it ran up to $125k.  We had planned on a $575k sales price and sold for $590k.  Overall it was a great project.

The Numbers

  • ROI - 38.86%
  • IRR - 77.72%
  • Net Profit - $47,120
  • Sale Price - $590,000
  • Purchase Price - $360,000
  • Rehab Cost - $125,000
  • Soft Cost - $24,250
  • Selling Cost - $33,630
  • Total Cash Invested - $121,250
  • Time (months) - 6
 

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