House #18 One last Flip for a Quick $8,000

by Stealthy Rich · Published April 14, 2019 · Updated May 20, 2020

11/13/2014

Perfect Little Flip House

I know we’ve highlighted a bunch of flips here so far, but hopefully, this is our last one for a while. We are in that constant need of more capital to fund more long term deals, and so that’s the case with house #18 3122 Brickle Enlargement. It’s a quaint two-bedroom, one-bath at 1,018 sqft only. We found this through yellow letters and couldn’t pass it up at $35,900.

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Buy-Side HUD Statement

Here’s the HUD for this one. Total out of pocket was $36,602. We paid all cash for this one knowing that we were going to sell it.

Plan for This Flip House

We always thought we would’ve flipped this house, it was in pretty bad shape, and we still didn’t have the systems in place to rehab this the way we can today (2019). The siding was rotting, and the inside was tired looking. So we decided to flip it, and we quickly found a buyer and sold for $47,500 a month later. Of course, we had some transaction costs in there like title policy and doc fees, and some utilities, so in the end, we cleared about $8,000. Of course, had we kept this one, and everything went well, it probably would rent for $900 today, which would’ve been about a 2.25 on the rent to price ratio! But instead, we got $8,000 in 2014 dollars, which helps us move forward with our plan of rental house domination. We were going to own that whole neighborhood at some point!