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Full Renovation Property 17K Profit 27% Equity ID1089 Sunrise, FL

Property Detail

Type Condo Status Available Location Florida Sub Location Sunrise Price $57,645 Area (sqft)850Bedrooms2Bathrooms2Year Built1973Equity26.70%

Property Description

Wholesale Deal, Fix & Flip, Off Market Deal

Description: 2 bed, 2 bath, Condominium, 850 sq. ft. Built in 1973. Needs full renovation. No rentals allowed.

About Repairs: Needs full renovation.

How Seller Determined ARV: Based on comps that we have run on properties in the surrounding area that have a similar size, age, or layout. Please contact me to request more information. But as always, please do your own due diligence and verify all information for accuracy.

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Short term rental numbers

Est. Monthly Rental Income$1,199Zestimate
Est. Rental Income (over 5 yrs)$71,940Zestimate
minus Seller’s Asking Price$57,645Zestimate
minus Est. Cost of Repairs$45,000Zestimate
minus Est. Cost of Furnishings$2,882Zestimate
equals 5 year Equity/Profits of$167,938Zestimate

Fix & Flip numbers

Est. After Repair Value (ARV)$119,900Zestimate
minus Seller’s Asking Price$57,645Zestimate
minus Est. Cost of Repairs$45,000Zestimate
equals Profit Potential of$17,255Zestimate
Equity26.70%Zestimate
Need funding: Get Pre-Qualified
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This information is provided by the seller. All numbers, including Estimated After Repair Value (ARV) and Estimated Cost of Repairs are estimates. Please do your own due diligence.

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Ready to get funding for your deal? Get lenders competing to finance your deal and get the best rate available anywhere.

Answer a few quick questions and get contacted by lenders who are ready and willing to fund your deal fast. To get started, select your investment strategy below:

 

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Buy & Hold Fix & Flip A little bit of both
Funding options

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Hard Money

Borrow from a Hard Money lender. These loans are easier to quality for, have low rates and fees, and close in as little as 4 days.

Crowdfunding

Borrow up to 80% of the ARV with no origination fees up front. Crowdfunding is faster and more flexible than traditional funding, and less money is needed to close.

Long–Term Loans

Take out a traditional long-term loan from a mortgage company or bank.

Private Money

Borrow money from a private lender. Each private lender is different, but these individuals typically offer lower rates than hard money lenders, and more flexible terms.

Your Own Cash

Use your own cash. Those who have cash generally prefer this method because it eliminates borrowing costs and speeds up the closing process.

Someone Else’s Cash

Bring another individual into the deal who will either partner with you or be your private lender. Partners receive a portion of your profits.

Take Over Payments

Take over the existing mortgage “Subject To” the existing financing. This is much more likely to be effective for motivated seller leads as opposed to wholesale deals.

No Money Needed

If you primarily pursue motivated seller leads and your plan is to wholesale those properties, then you don’t need cash or financing.

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