We are now in our 4th project and it could not have come in a better time since we were just coming home from our three week visit in the beautiful islands of the Philippines. Needless to say, it was one of the best ever, which inspired us to work harder. We were out of the country 21 out of 30 days during the acquisition of this property. So we're now back to the hustle and bustle, we only had 5 days to close this deal from the moment our plane landed, which was challenging at times due to the jetlag. Once we had that accomplished, five weeks and 5 days down the line and here we are with the finished project. The property received a total of 16 offers in less than 1 week, one as high as $350,000. The winning bidder was an all cash buyer and we were able to close escrow in 19 days from the acceptance of the offer.
Acquisition Cost: $210,000
Rehab Cost: $42,000
Resale Price: $318,000
Purchase Date June 25, 2009, Close of Resale August 27, 2009. TOTAL Project Time: 2 months and 2 days
Below are the BEFORE and AFTER photos of Coronet Project #4
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WOW!! What a difference! You guys did an awesome job!!!
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