21st Drive
PURCHASE PRICE: $310,000
RENOVATION COSTS: $100,000
RESALE PRICE: $550,000
PURCHASE PRICE: $310,000
RENOVATION COSTS: $100,000
RESALE PRICE: $550,000
Dan found 21st Drive for one of his investment clients. After Dan’s market and ROI analysis, he advised his clients that this property would meet their needs. Dan recommended a purchase price of $310,000 and with $100,000 in renovation costs and closing costs, the final list price would most likely provide an ROI of 25%. The client hired Dan to head the project, hiring and overseeing contractors, permits and overall management.
After completion and continued market analysis updating, Dan’s projected sale price of $500,000 rose to $550,000 and was listed and sold at that price. Dan’s investors made a 35% return on investment, 10% above his original analysis of a possible 25% return.