House #50: Contract To Buy

May 22, 2013 · 9 comments

We’re scheduled to close on House #51 this week…

This one is in a new market we’re working in, and we’re actually getting ready to pick up several new deals in this market over the next few weeks.

Here is how we anticipate the numbers will break down for this one:

House #51 Estimate

9 responses to “House #50: Contract To Buy”

  1. T says:

    Are you able to disclose what the new market is? 🙂

  2. J Scott says:

    Hey T,

    We’ve made the decision not to disclose the new market at this time (I’ll just say it’s in the south east). I think there’s a lot of opportunity there, and we don’t want to encourage any competition that may run over us… 🙂

  3. T says:

    I don’t blame you! Best of luck on this one.

  4. Trey says:

    Wow that’s a pretty nice profit margin :). How long was the holding period for House 51?

  5. J Scott says:

    Trey –

    We just purchased it…this is the projected financials. We expect the total hold time to be about 4 months.

  6. Tom Greene says:

    I really appreciate all the work you do in writing this blog. It is certainly an inspiration and more importantly provides many profitable ideas!

  7. Harry M says:

    Hey J,
    I’ve noticed that for your last few properties you’ve shifted into a higher price range. Do you mind sharing some of your thinking behind the shift? I can certainly see how that could help with scalability of the business (in that some of the efforts involved wouldn’t necessarily increase proportionately with the price range).

  8. J Scott says:

    Hey Harry,

    The last several projects have actually been in cities outside of Atlanta, and where entry-level houses are selling in the $150-350K price range. So, we’re still focusing on the “low end” of the buyer range, but the low end is more expensive than what we’re accustomed to in Atlanta.

  9. Harry M says:

    Thanks for the response, J. That makes sense. Good luck in the new market!

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our Newsletter and get immediate access to our FREE 150+ Page eBook on New Construction, plus all of our business tools: Single-Family and Multi-Family Business Plans, Rehabbing and Buy-and-Hold Spreadsheets, Contract Templates, and more!
We respect your privacy. No Spam...EVER!