I’m so excited. Beau
and I put in an offer on a townhouse.
It’s a court sale so I’m not sure when we will hear back. However, here are the numbers if we get it at
the price we want.
$215K purchase
$20K renovations (the townhouse is similar to Mom & Dad’s
townhouse we just renovated)
$15K for Realtor fess, lawyer fees, etc.
Projected sale price $290K based on two similar listings in
the same complex listed for $300K. One
is conditionally sold.
Projected profit is $40k.
Respectable. Also, if some things
happens to the market and we cannot sell, the economics still works out to hold
this as a rental unit.
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