Joe Abbascia

We purchased this property for $69,000 with a rehab budget of $71,000 (overage of $4,000) carrying costs of 14,560.00…The offer to purchase was accepted within 14 days and the property sold for $207,000 with $4,000 concession to the buyer at closing…$44,440 is net before taxes.

We are currently working on two other projects, one is almost complete, the other is being started within two weeks …The one almost complete was purchased for $126,000 with a $50,000 budget and $15,000 carry costs…We plan to list it at $249,900 and quick sell at $245,000 with a projected net profit of $53,500…This was purchased through stick on bandit signs placed on our trash guys dumpsters…We worked out a deal to put signs on both ends of his open top dumpsters…This house was inherited by a family member who lived out of town…I got the call, the family member I spoke with who was also the executor of the estate was motivated to sell quickly by his distance from the house and work needed to be done…We went back and forth a few times and settled on an amount to purchase it as is for $126,000, also an additional $500.00 went to my trash guy as a sold lead from one of his trash can signs…
I will keep you posted of our future project developments.

Joe Abbascia
Properties Central