僧多粥少 - 好容易抢了一个Single Family Flipping Project

[TangMu Song]

作天正式过户了一个不错的Flipping deal.  在Norwalk的好区，价格大约23万。是一个老太太的房子，已经80多岁了。在这个屋子住了至少十几年。听Agent 说，老太太昨天还亲自来到房子看看最后一眼。我很喜欢这样一个屋主在里面许多年的。肯定不是差房子。根据估计，即使不重新装修，到年底也能值个25万到27万。如果重新装修，需要3万到4万，能值个33万以上。装修计划已经好了，一个月即可完成。

[Ying Song]

What about transaction cost like agent fee or taxes, closing cost?

Sent from my iPhone

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[Tom]

6%.

[Sq6688]

Carry cost breakdown assuming holding period of 6 month with sale px at 250k

Selling broker commission assume 250k sold px

250k*6%=15000

Buy and sell closing cost including title work and transfer tax: 5000- 8000

6 month property tax : 3000

6 month mowing cost : 240

6 month utility cost : 600

Total carry cost: 26840

Gross profit: 250k-230k= 20000

Net pnl = -6840 plus your time

Do I miss something?

David sun

On May 23, 2013, at 6:29 PM, Ying Song <sylvi...@gmail.com> wrote:

[Sq6688]

I forget to consider opportunity cost for 250k invest. Say if you put it in ETF such as spy, 6 month return is about 9%

David sun

718-715-5659

[TangMu Song]

Wow! You are so sophisticated :-). Let's see what would happen in a
couple of months.

On May 23, 6:41 pm, Sq6688 <sq6...@gmail.com> wrote:
> Carry cost breakdown assuming holding period of 6 month with sale px at 250k
>
> Selling broker commission assume 250k sold px
> 250k*6%=15000
>
> Buy and sell closing cost including title work and transfer tax: 5000- 8000
>
> 6 month property tax : 3000
>
> 6 month mowing cost : 240
>
> 6 month utility cost : 600
>
> Total carry cost: 26840
>
> Gross profit: 250k-230k= 20000
>
> Net pnl = -6840 plus your time
>
> Do I miss something?
>
> David sun
>

> On May 23, 2013, at 6:29 PM, Ying Song <sylvias...@gmail.com> wrote:
>
>
>
>
>
>
>
> > What about transaction cost like agent fee or taxes, closing cost?
>
> > Sent from my iPhone
>

> > On May 23, 2013, at 4:38 PM, TangMu Song <song...@yahoo.com> wrote:
>
> >> 作天正式过户了一个不错的Flipping deal. 在Norwalk的好区，价格大约23万。是一个老太太的房子，已经80多岁了。在这个屋子住了至少十几年。听Agent 说，老太太昨天还亲自来到房子看看最后一眼。我很喜欢这样一个屋主在里面许多年的。肯定不是差房子。根据估计，即使不重新装修，到年底也能值个25万到27万。如果重新装修，需要3万到4万，能值个33万以上。装修计划已经好了，一个月即可完成。
>
> >> --
> >> You received this message because you are subscribed to the Google Groups "Great Neck Investment Club on FANG ZI" group.
> >> To unsubscribe from this group and stop receiving emails from it, send an email to greatneck+...@googlegroups.com.

> >> For more options, visithttps://groups.google.com/groups/opt_out.

[Sq6688]

My point is to proceed with renovation and sell at 350k which makes a successful flipping

David sun