http://smhbn.blogspot.com/2006/07/just-how-profitable-is-flipping.html
Flipping has become practically a household word with all of the real estate transactions that have been taking place the past few years, but just how profitable is it really?
We have been tracking some interesting transactions in the Maryland tax records about quick property flips and we’ll show you a few, so you can see just how much money is rapidly changing hands.
22065 Mojave Dr, Great Mills, MD – On July 16, 1992 this home was sold by the Saint Mary’s County Housing Authority for $40,000. On March 30, 2006 it was sold to Fitzgerald Family Enterprises of Mechanicsville for $65,000.
In less than a month on April 25, 2006 Fitzgerald Family Enterprises sold the home to Guenther Construction Company of Leonardtown for $105,000. Today Guenther Construction Company listed the property in the MLS for $200,000.
Year built 1974. Here are the listing details: “Renovated Rambler all on one level, Brand new kitchen & appliances,Professionally installed carpet,Fresh interior paint & more,4BR,1.5BA, Back yard partially fenced level lot with mature green lawn.” 40765 KING DR, MECHANICSVILLE 20659 – On June 16, 1997 the Secretary of Veteran’s Affairs sold this home for $60,000. The buyer sold the home on March 31, 2006 to Fitzgerald Family Enterprises for $128,000. On May 24, 2006 Fitzgerald Family Enterprises sold the home for $210,000. Year built 1974. 18341 CHESTNUT ST, LEXINGTON PARK, MD – On April 07, 2006 this property was sold for $65,000.
The very same day, it was sold again for $190,000 to Guenther Construction Company. While this business may not be for everyone, it certainly looks like it is going quite well for some of our locals citizens.