415 Larkwood, San Antonio (Alamo Heights), TX Project
Motivated seller – Inherited the house & could no longer afford it. Ugly house in high demand area.
House ARV (After Repaired Value) = $230,000
Our Purchase Price = $137,000
Repairs = $30,000
Closing/Carrying Cost = $4,000
Total Loan = $171,000
- House needed to be modernized. Gutted kitchen and bath, added 2nd full bathroom – Private investor lent $155,000 for purchase and majority of repair costs.
- Listed the house on MLS and had contract in 5 days for $228,000. Closing October 9.
- Investor made $7,750 in 4 months.