House #47: Final Analysis

March 24, 2013 · 5 comments

We closed on the sale of The Divorce House today…

This was a pure wholesale deal — I never even saw the property! The buyer was the same investor who purchased The Retail House and plans to hold it as a rental. Given that I never saw the house, there’s not much I can really say… 🙂

Here are the final stats and financial details:


Here are the key timeline milestones:

  • Purchase Offer Date: 2/7/2013
  • Purchase Closing Date: 2/25/2013
  • Rehab Completion Date: 2/25/13
  • Sale Listing Date: 2/28/2013
  • First Sale Contract Date: 3/6/2013
  • Final Sale Contract Date: 3/6/2013
  • Sale Closing Date:3/15/2013


Here is the breakdown of financials for this project:

Divorce House Financials

Final Statistics

Here are just some of the final statistics that I’ve been tracking for all my projects, and that summarize the success/failure of each project pretty well:

  • From Offer to Purchase Time: 18 Days
  • Rehab Time: 0 Days
  • Selling Days on Market: 6 Day
  • Selling Close Time: 9 Days
  • Total Hold Time (Close to Close): 18 Days
  • Total Profit: $16,789.91
  • Return on Investment (ROI): 31.23%
  • Annualized ROI: 633.35%

5 responses to “House #47: Final Analysis”

  1. Kristine-CA says:

    Hi J. I saw that the two wholesale deals closed recently in your “results up to date”. Congrats on them both. Fun stuff when you can get great profits and ROIs without a full rehab. In just a short (but maybe long to you!) five years you’ve seen a drastic market change. When everything settles down again, you’ll still know how to create a great retail product, but for now I wish you (and me) bucket loads of profitable “wholesale” deals!

  2. Bob W says:

    Please explain $4389 commission to agents under selling cost summary and $2190 commission on sale under commission costs. Not sure I understand the need for these two expenses. Thanks.

  3. J Scott says:

    Hi Bob,

    We’re licensed agents and list our own properties, so we don’t have to pay a commission to a listing agent to list the house for us. But, for accounting purposes, we always pay 3% commission to the listing agent (us) and then actually get a check for the commission from our broker. So, the $4380 is 6% of the sale price paid in commissions, and the $2190 is half of that that came back to us as the agents.

    Does that make sense?

  4. Bob W says:

    Yes, thanks. On another issue, can you provide any information or place where I can get information on the SAFE Act as it relates to the investor owner financing of mobile homes? Also do you know if there are Dealer license requirements for investors to purchase mobile homes and sell with owner financing in the state of Florida? Many thanks.

  5. J Scott says:


    The SAFE ACT is implemented on a state level, not nationally. So, you’ll want to check with your state’s regulating agency, which is probably the Department of Banking and Finance, or something similar. Unfortunately, I don’t know anything about Florida laws.

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