In our fifth flipping venture, we initially acquired a property near a university, intending it as our first rental investment. This property, along with another nearby, was chosen for its prime location and charming, old-house appeal. A separate post will delve into details about the second house. Despite initial plans for rental, circumstances led us to shift our strategy to flipping these properties. Our initial focus on rental yield rather than flipping profit required a strategy reassessment. Consequently, we opted for a more modest renovation budget, mindful of the maximum selling price. Ultimately, this approach enabled us to still realize a respectable profit.
Purchase Price: $135,000
Reno Budget: $50,000
Hold Loss: $10,000
Sold Price: $265,000
Net Profit: $50,000
Days on Market: 4 days
