Financial Highlights

Original List Date: November 20, 2019

Original List Price: $44,900

Initial Offer Date: November 22, 2019

Initial Offer amount: $61,000

Purchase Close Date: December 26, 2019

Purchase Price: $61,000

Purchase Source: MLS

Rehab Start Date: January 9, 2020

Rehab Completion Date: March 15, 2020

Rehab Amount: $33,536

Appraisal Date: March 23, 2019

Appraised Value: $123,500

Refinance Date: April 30, 2020

Rent: $1,199

Financial Summary

We had longer than desired closing costs as the date to actually refinance continued to get pushed. Factors from Bank extensions, miscommunications with new contractors, etc. caused for a later date.

We felt comfortable asking above asking price because of the market knowledge. BRRRR Rental #5 is located 2 blocks down from this property. We had already received the completd appraisal and planned to utilize the experience and knowledge gained in rehabbing that home in the current neighborhood along with the professional appraisers expert opinion.