Tuesday, February 2, 2010
dog house
We purchased the house at 55 Main Street in the McKinley subdivision from a bank that had foreclosed on the builder's loan. There were still 4 houses under construction, but the subdivision was nearing completion. The house we bought was about 90% complete. Some interior surfaces had not been installed, but we were able to finish out the property for about $12,500. Our total investment in the property was only $95,347.80 including carrying costs for the time that we had it on the market. We made $73,889.40 on the property after closing costs. The project was 16 weeks start to finish.
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