Example of “Flipping” in Hawaii
Here is an example of “flipping” a house in Hilo, Hawaii. This house was listed as a short sale on 6/12/2015 at $225,000. An offer was accepted on the same day. But it took about 11 months to close because of the short sale process. It was sold at $195,000 on 5/18/2016. Then, the buyer renovated the house, and put it on the market for sale at $320,000 on 12/7/2016. Within a week, an offer was accepted. It’s still in escrow. I’ll report how much it’s actually sold when the sol