Wednesday, May 02, 2007
I forgot to post - we sold the house. It sold for about what we expected, but because we ended up using a realtor and paying fees/commission, we only made about about 20% profit. I think the house location hurt us more than anything else. We were really good on budget, and the house turned out well, I think. Unfortunately, many of the potential buyers were turned off by the location, a still "in transition" part of the neighborhood. Because of that, the house took longer to sell, and we had to enlist realtor help. In the end, we still got a decent return on our money, and I definitely enjoyed the learning experience. I'm not sure if we have a remodel flip in our near future. We are working on new constructions right now, and we're finding there's more money to be made in pure land-flips or new construction. While it's fun to bring a house back to life, I have to admit that the profit is why we do this.
Posted by mom2reese at 10:58 AM