We acquired another fix/flip deal!
On April 15th, we closed on our latest single-family fix/flip in Scranton, PA.
This opportunity met all of our underwriting numbers with a comfortable margin, so we were able to fully fund the project from our cash investor network within 24 hours of announcing the project.
Our Plan and Exit Strategy
We have a $65,000 repair and remodeling budget allocated which will be used to remodel the kitchen and bathrooms, replace the heating system, refinish the existing hardwood floors, replace all light fixtures, clean up the basement bonus room, and paint the interior a neutral color.
On the exterior, we will replace the roof and damaged garage door, repaint the front brick elevation to freshen up the look, replace the front door hardware, mailbox and exterior lights, and clean up the planters.
Our timetable is 2 months to complete renovations and put the house back on the market in the July –August 2024 time frame.
Why we like this opportunity
This property is located in a highly desired, quiet neighborhood in North Scranton, with an elementary school, softball field, and well-maintained playground within a block of the house.
As a bonus, the large, level lot is 3x the size of the other homes in the neighborhood.
With minor repairs and light updates, this house will have finishes comparable to $300,000 homes in the area.
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