Funded by Universal Capital
This fix and flip success story stars the project located in Georgetown, MA. Universal Capital provided a short-term rehab loan that contributed to help purchase and renovate this beautiful home.
The borrower was able to purchase this property at a discounted price because it needed a brand new septic system and needed updating throughout the property. Purchasing it for $242,500, the total renovation costs were around $75,000, and resold for $430,000. Not only did they install a brand new septic system, but they also replaced the roof and updated the basement for more added space. They completely renovated the home to be move-in ready – a huge selling feature.
Multiple key factors led our borrow to success. They first started by choosing the most run-down house in a nice quiet neighborhood in Georgetown, MA. It was important to find a project in a good location. Although this property was in rough shape, they knew that they would be able to make a profit if they stayed on budget.
When renovating the kitchen, they decided to go with all neutral colors, new stainless steel appliances, granite counters, hardwood floors, and an open concept which are all key selling factors to a buyer. Once the project was finished, they listed the property for sale on September 5th, 2019. It was a perfect time to list in New England when the weather was warm and the grass was still perfectly green.
Are you interested in doing a fix and flip of your own? Don’t know where to start? Feel free to call us today at 1-800-259-1614. Universal Capital is a local relationship-based company that will help support you in your real estate investing.