This is why I get so excited about real estate: deals like this one!
This is an extremely inexpensive flip with big profit margins. The asking price is just $3,000.
That is not an auction starting bid: that is the actual asking price.
Let's take a look at this property:
418 W First Street, Sawando, WI
This is a 3 bedroom, 1 bathroom home
with a detached 2 car garage.
As you can see, it will need a full rehab,
but since the asking price is
just $3,000, that would essentially be your only cost.
Now for the exciting part: let's look at the numbers:
Purchase Price: $3,000
Rehab costs: $30,000
ARV quick sale price: $59,000
Total profit: $26,000
This is the perfect type of flip for a first time rehabber. The cost is low, and the relative profits are high.
And best of all, if you get a Home Depot credit card, you can float most of the costs of your materials.
In other words, if you can come up with the $3,000 purchase price, you stand to make $26,000 in profit.
Does this get you excited? I sure hope it does!
