The Dolphin
A unique two story 4 bed 2.5 bath was designed to give maximum square footage at a greatly reduced price, so the numbers will make sense while still being attractive to potential renters. Total square footage has come in at 1,588 after final plan drawing.
The numbers.
The Majestic
A unique two story 2/1-3/1 duplex. Rather than a traditional ranch style single story duplex, the coach style two story is a proven design. Perfect for large families that want to split space, or easy for two separate tenants as they each have their own entry (top floor entrance is against right wall of left garage). The second story has an extra bedroom to pull higher rent, and give more options to potential renters.
The numbers.
Flipping for Big ROI
These are excellent buy and hold properties as stated in the above numbers. However, for those looking to flip their property for a quick profit, the Dolphin is an excellent choice to make 68% ROI in just 9 months with only 15% down!
Flipping the Dolphin
An investor has 2 options with the Dolphin using the 15% down loan program. Option1: Do not close with the lender when house is at CO. Why? It is cheaper to pay interest on the construction loan from the builder’s line, than 4.5% lenders closing cost. The investor needs to agree to pay the monthly construction interest after CO of $1400 a month to the builder each month until loan closes. Average selling time in Cape Coral under $250,000 is 120 days. Option 2: As an exit strategy, you can close the loan and rent the Dolphin for $1600+ a month.
The Dolphin is a great home to consider flipping especially using the 15% down payment loan. The market sales price is $235,000 minus investors price $204,900 = $30,100 gross profit. Subtract 4% R.E. sales commission from the $235,000 = $225,600
$225,600 Sale price (less the 4% R.E. commission)
-$204,900 Investor’s Purchase price
$ 21,700 net profit or 67.5% ROI in 9 months.
Call-Text-Email: Kevin
239-229-7931
khaag@douglasrealty.net
Learn why new construction is a smart investment.