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$14,000 Profit on Quick Flip

by Roy Gardner, Cash for House, Inc.   

In November 2000, I bought a 1065 square foot, three-bedroom, two-bath house for $40,000. This was on Thursday. I placed a "fixer-upper" ad in paper to run Sunday, asking 58,000. Many people called, and I sent them to look at outside of the house and neighborhood because the owners were still in house.

I made an appointment to show the inside to four prospects on Monday at 5PM. On Tuesday, two of the people called back, and I sold the house for $54,000 cash and did double closing. With no money from my pockets (all the cash came from the rehabber who also paid the closing costs), I made $14,000 cash profit.

 
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