newest turnkey home in Alabama Appraised 22,500 higher !

Madison, Alabama Bought an off market property! Purchase @ 170k (comps 220-240k) Assignment fee @ 20k 36K Rehab- Siding work, new roof, 2 new baths, new kitchen, LVP / Paint. Did granite counters and a nice backsplash to get a higher rent rate. Appraised @ 265k 😀 Rented in a few days @ $1,700/month Cashflowing $390/month after PM. Refi'd and got most of our money back to do it all again. Team got it one in 14 days during New Years break. IDK How, but yes.

Decided to purchase from one of the recommended Turnkey providers in Decatur, Alabama. Smooth closing with them and our lender was great. This was in a new build development. Purchase @ 287k Appraised @ 297k FYI: most new development homes don't include a backyard fence so don't forget to budget that in!!