Maine Hard Money Deal - Close

715

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Maine

Looking to flip this house. Add a second floor with two more bedrooms to make the home into a four bedroom. Add a two car attached garage and beautify the lot to give it more curb appeal. There are three of us in the process of incorporating our business, one of us has many years of experience and has flipped multiple homes in the past. House is on a corner over-sized lot surrounded by homes worth $275,000-$300,000. The structure itself is in good repair, with new plumbing and electrical within the last 8 years and will require minimal maintenance before adding the second floor and attached garage. The asking price is 119,000 but we're estimating we'll get it for 110,000. The renovation budget is 75,000. We'll have them completed in 90 days and we're expecting the home to be between 225,000 and 250,000 when completed.