Ringwood New Jersey House Flip
This Ringwood, New Jersey real estate flip was recently funded by Do Hard Money. Michael F. found this home needed renovation and ran the numbers to see if it would be a profitable flip. By utilizing the ADA he was able to determine that it would be worth pursuing and went ahead with an offer.
He was able to purchase the property for $163,275.00, and obtained loan of $250,000. Once the evaluations had been completed and the contractor bid finalized he needed to bring only $7,197.00 to close to get the rehab underway.
View the HUD statement for this deal here.
*after all holding, commissions etc.
Before and After Pictures
Front of House Before
Front of House After
Living Room Before
Living Room After
Back Yard Before
You can see from the before pictures that the entire interior needed to be redone. Ringwood New Jersey has two distinct neighborboods, one in which the homes list for around 1M and the area in which this home is located, where the properties list in the high 200s to $450,000. So this home needed to be renovated with high end finishes in order to be competative.
A certified mold inspection was needed due to both evaluators smelling mold when looking at the house. A septic system inspection was also needed. After both of those inspectio9ns certified that less than $5000 in remediation was needed, Michael was good to go.
Rear of House Before
The neighborhood is close to shopping, employment opportunities and hospitals, and fairly close to NYC. The house sits on an oversized lot for the area, and has a multi level deck, which add appeal. The terrain in the Borough of Rinwood is hilly, with multiple lakes and reservoirs.
And More Pictures
Exterior of House After
Do Hard Money funds fix and flip in vestments in 32 states and DC. This beautiful Ringwood New Jersey real estate flip is just one example of many. give us a call to get started 201-716-0886. Or click on the button beow. We are looking forward to helping you achieve your investing goals!