Springfield, NJ
This is a single family home in need of some urgent TLC. This is your classic fix and flip scenario. We have done this so many times but it never gets boring. My contract price is $245,000.00 and although Zillow says a value of $379,000.00 this house is slightly tore up and my local realtor says $450,000.00 or better when I am done. No way around spending $60,000 on the one but it will come back at 2 to 1 for every dollar of construction cost.
http://www.zillow.com/homedetails/83-Salter-St-Springfield-NJ-07081/40059106_zpid/
| Purchase Price | 245,000.00 | |
| Closing Costs | 2000 | |
| Carry Costs | 6000 | |
| Rehabiklitation | $60,000.00 | |
| TOTAL | 313,000.00 | |
| SALE | $450,000.00 | |
| Margin of Safety | 137,000.00 |
No way we lose on this one. We might even surprise ourself at the time of end sale and come in higher that $450,000.00.
