A real estate flipper bought a house for $220,000, spent $60,000 renovating it, listed it at $400,000, and is selling it for $325,000. After fees and closing costs, he breaks even. He has $500,000 tied up in four other flips as rising interest rates tank the market.
You know, because this interest rate thing has been making it hard for me to sell my flips, man. Dude, me too. 4 flips going on right now, and I have probably half a million tied up. Yep. I'm not borrowing either. This is money that I have actually invested. Yeah, it's your money. I got, uh, one property I bought for $220,000, and I put $60K into it, listed at $400,000, and I'm selling it right now for $325,000. Does that break even? Yeah, it is about to break even after paying all the fees and the title fees and the closing costs.
Why Traditional Wholesaling Keeps Failing You (Use This Pre-Flip Method Instead)
