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A real estate investor likes to flip houses. That is, he likes to buy a house at a low price and then flip or sell
A real estate investor likes to "flip" houses. That is, he likes to buy a house at a low price and then "flip" or sell the house for a higher price. The investor is looking at a foreclosed house that will cost $236,618.00 today. He will invest an additional $44,275.00 in the first year of owning the house to upgrade its features. He then believes he can sell the house for S422,751.00 at the end of the second year. What is the IRR of this investment? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
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