Noreston was a HUD purchase in the Winter of 2015. The home was lightly lived in and simply needed attention to update and re-detail the home. The only piece of the home that was not original to the 1989 build was the basement carpet.
Shawnee KS Fix and Flip: Noreston Project Challenges
Biggest Challenges: Working with the client to ultimately move into the home was the biggest challenge here. Buyers were moving from out of state and were under contract on their home. We accepted their offer on contingency to close, but it unfortunately fell though a day before they were to close.
We offered the buyer the opportunity to rent our home while they re-listed and sold their Shawnee home. Ultimately, being flexible really helped us maximize profits and secured a great owner for the home.
Financial Overview:
Purchased 182,000
Labor, Materials, Insurance 28,800
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Total 210,800
Sold 254,000
Fees 18,700
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Net Sale 235,300
Net Profit 24,500
ROI 11.6%
Shawnee KS Fix and Flip: Noreston Project Summary
Summary: Beautiful home once updated. We ultimately maxed the appraised value of the home in the neighborhood at the time.
About KC Property Guys
KC Property Guys is a Kansas City local turnkey real estate investment firm. We work with home owners and real estate investors alike specializing in traditional and creative housing solutions for home owners and all in one business is a box investment programs for investors. Free home owner home valuations and investor consultations. Information (913) 730-0086.