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Recent Flip

This is a recent flip that we purchased back in 2002 at $129,000 and put nothing down on the property. Our mortgage payment was $650.00 a month and we rented the house for $1250.00 a month. That is 144 months which is $180,000 profit without painting or spending any money on this property. Once the tenant moved out we owed $104,000, so we put in $80,000 to upgrade the property and sold it this week for $268,000. What a great way to retire.

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