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McMansion Flip Yields 64% Return

[fa icon="clock-o"] Mar 2, 2020 2:19:00 PM [fa icon="user"] Brent Maxwell [fa icon="folder-open'] Detroit Real Estate, real estate investment, return on investment, flip

We bought this rehab project for $175,000 in late summer 2018. Here is a before and after comparison of the kitchen:

oakridge_kitchen_beforeoakridge_kitchen_after

The rehab cost $43,400 and took a couple of months. This is what the bathroom looked like when we bought it and how it looked when we finished:

oakridge_bathroom_beforeoakridge_bathroom

Here is a before and after of the great room:

IMG_6781.HEICoakridge_greatroom

Out total investment was $218,400. We sold for $295,000 in seven months for a gross profit of $76,600 for an ROI of 35% with an annualized return of 65% yield.

Brent Maxwell

Written by Brent Maxwell

Brent Maxwell is the founding partner of IPS Realty

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