Cautionary Tale

I recently had a close call with a fix-and-flip project in Louisville. The purchase price was $120,000, rehab scope $30,000, holding cost $10,000, ARV $180,000, and projected net $20,000. However, I underestimated the rehab time, which led to additional holding coss. Luckily, I was able to sell the property for $175,000, still turning a profit. This experience taught me the importance of thorough property analysis and considering potential delays in the rehab process.