Real Estate Math
A Nevada investor buys a property for $250,000, spends $45,000 in renovations, and sells it for $385,000 after paying $23,100 in selling costs. What is the investor's net profit?
A$66,900✓ Correct
B$90,000
C$135,000
D$61,900
Explanation
Net profit = Sale Price − Purchase Price − Renovation Costs − Selling Costs = $385,000 − $250,000 − $45,000 − $23,100 = $66,900. This is a standard fix-and-flip profit calculation.
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