Take a look at this house:
 |
| Ben Moskel |
Bushnell, FL 33513.
 |
| Ben Moskel |
It sits on a full acre of
land.
This is a beautiful home
that has a lot of attractive features in it.
The current asking price is $92,500.
It needs about $40,000 in rehab expenses—mostly cosmetic.
Here are the numbers:
Purchase price: $85,000
(estimated)
Rehab costs: $40,000
ARV: $179,000
Net Profit: $54,000
When I see homes like this, I get excited.
Here is why I would flip this house:
1. It is located in the country. There is almost no competition if you decide to flip homes in rural areas. For some reason, most people only flip in cities and suburbs.
2. There is a HUGE profit margin in it. $54,000 is a very nice profit
on a relatively small and simple flip.
There is a misconception that rural houses sit on the market forever because no one lives out in the country.
It is true that fewer people live in rural areas.
But it is also true that there are less homes available. When priced right, rural homes do not sit on the market any longer than suburban or city homes.
If you are looking for an easy first flip with:
1. A high probably of success
2. A better than average profit margin
3. Little or no competition
then flip a home exactly like this one, in a rural area.
Honestly, it is like cheating. There is so much more profit to be made in a rural flip like this.
