Rehab #12, Salem – Final Analysis

I received all the receipts from my partner on Rehab #12, Salem and other than a couple of items that we need to fix for the buyer (we had to wait for warmer weather), this should be an accurate account of the deal.  Although we went a bit over budget on the renovation we came out making more than anticipated thanks to an uptick in the market.  We ended up selling this property for $35,000 more than we forecasted!  Here’s how the deal breaks down…

Overview:

  • Purchase Closing Date – 10/10/2013
  • Rehab Completion Date – 2/1/2014
  • Sale Contract Date – 2/4/2014
  • Sale Closing Date – 3/7/2014

 

Financials:

Rehab #12, Salem Final Analysis

Stats:

  • Rehab Time – 114 days
  • Selling Days on Market – 4 days
  • Holding Time (close to close) – 148 days
  • Total Profit – $81,603.30
  • Return on Investment (ROI) – 222.06%
  • Annualized ROI – 547.65%

 

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  • Shaun Reilly

    Holy Sh*t!
    Awesome Deal Justin!!!!
    This is the kind of one that reminds you it is totally worth putting up with the occasional tough selling (Reading) or never ending rehab BS (Wenham) deals.

    • Thank’s Shaun. Yes, we’re really happy with how this project turned out. I’ll have more updates on Wenham and Reading next week…

  • Nice job Justin – only last 4 days on market, thats incredible! time to take the family to the 4 seasons! Thanks for sharing.

  • Zachary Clough

    Wow! An extra un-anticipated $35K?!? Thank you very much!

    Well done Justin!

  • Thanks guys.