7142 Magnolia Valley Dr
Purchase Price: $36K
Rehab Investment: $35K
Total Investment: $71K
Under Contract: $100K in less than 9 days
Pre-Closing ROI: 29.0%
Location: Magnolia Valley in New Port Richey
Realtor Kevin McCullough’s first solely purchased flip property was bought for $36,000 in 2014. He then spent $35,000 fixing up every square inch of the place and ended up getting it under contract in less than 9 days for $99,999! This property was located in a neighborhood called Magnolia Valley located in New Port Richey, Florida and ever since then he has continued doing other flips and helping his clients become masters of real estate as well.
Home needed 3 full dumpsters of trash and demo to cleared away, Ceilings were removed in rooms and in kitchen drop ceiling was raised and canned lighting was put in. Walls were removed and rooms opened up, all the flooring was replaced, bathrooms were remodeled, painted inside and out, re-roofed, new cabinets, vanities, fixtures, ceiling fans. Termites had eaten through so much wood many of the ceilings and walls needed to be rebuilt and re-enforced. Popcorn scraped, celings painted with kilz in some areas and retextured with knockdown and then painted with 2 coats after. Elastomeric put on flat roof, plants and flowers put in along with fresh mulch a firepit and a new 6 foot privacy fence.