Posted by Jimmy on June 16, 2006 at 15:14:25:
looks like a pretty good turnaround. His profit was 22% on his investment. and is was a light rehab. not too bad.
I like to get my hands dirtier than this guy, and generate higher profits.
like this: buy uninhabitable 4-plex for 15K. pump 50K into it. rent it up for $1600-1650. I can hold it forever, or sell it for 125K. I have two “outs” that are rewarding and profitable. I like having choices. But notice how the flip-profit rate is higher when the work is major-major.
It is my belief that I have more room for error than someone aiming at smaller profits on lighter rehabs.
By the way, you wanna buy a renovated 4-plex??? just kidding