3d • How I closed a deal!
Update On 1st Renovation- 74k Profit!
As I should have posted a long time go, we finished out first large remodel and sold the property in January of this year for full asking price! 212 S Elm was amazing learning project and allowed us to have the confidence to dive into a bigger project. Here were the final numbers on the deal.
Purchase price: 41,800
Remodel: 41,500
Holding Cost: 1,650
Total Input Cost: 84,950
Sales Price: $170,000
Selling Cost: (11,050)
NET Profit: $74,000
Tax Tip: We paid 0% in taxes on the profits from this sale because they are LTCG and in the 0% bracket based on our tax returns.
Feel free to ask any questions!!
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Update On 1st Renovation- 74k Profit!
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