Homes needing some TLC can pay off financially

(December 02, 2014 )

Jodi has found one of her buyers a great deal on a house listed at $459,900.00. The first day the new price hit the mls with a $40,000.00 reduction, Jodi and her buyer were at the home to take a look. Three offers came in and we had to compete to win the offer. We wrote a strong offer with flexible dates, short subject removal and full price. After the buyer has spent approx $85,000.00 to make this home like new we have since sold the home for $615,000.00. After closing costs, carrying costs, renovations, costs to sell there was a nice profit of $40,612.25. Capital gains will be 25% on $40,612.25 leaving a net gain of $30,458.69 for 3 weeks worth of work. If you are interested in finding a home with some sweat equity just give Jodi a call at 604-833-5634 to discuss this opportunity.