You might have been wondering…how much did he spend on that flip project? Wonder no more, see the line chart below:
It turns out that I was $943 above my original estimate of $14,000. If you don’t recall the post regarding the details of the flip project you can see it here.
I will probably have another $6,000 in holding costs, which consists of: interest, closing costs (taxes, title fees, insurance) and utilities. Also, don’t forget that I have to compensate a buyer’s agent 3% of the purchase price. Ouch…it hurts just to write that, but that’s the cost of playing the game. Wish me good luck (I mean fortune) and I will definitely keep you posted!
