PROPERTY SUCCESS STORY
Rhode Island Ave., NW
Property: Rhode Island Ave., NW
Purchase Price: $170,000
Sales Price: $280,000
Renovation Costs: Cleaned debris out
of house
Profit: $100,000
Length of Renovation: N/A
|
 |
The seller of the property on Rhode Island Avenue was a 28-year-old
landlord that wanted to go to graduate school and was tired
of having to deal with tenants and maintenance. In addition,
the property needed major work. The seller was eager to sell
and marketed the property with yard signs.
Negotiations resulted in the acquisition of a property
that could either be renovated and resold, or wholesaled
for an immediate profit. ProfitableProperty identified
a local realtor/investor that was successfully converting
buildings into condominium units for resale. After analyzing
the numbers and time frames, the property was wholesaled
to the realtor who successfully converted the property and
made a handsome profit while improving the neighborhood.
For more Success Stories, Click
Here.
|
