Real Estate Investing: How To Fix and Flip Houses, 5 of 5
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Very nice videos. If the costs are not exaggerated toward the low end, it's a pretty good gig.
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@ 3:50 - nice job on the exterior ...and interior, of course.
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@MrMarv1985 - $10 k after taxes or before? Don't forget about the tax bite.
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As an alternative, he could have purchased this house for $80,000, 'wholesaled' it or 'flipped' it to another rehabber within 1-2 weeks, and made a quick $10,000 profit without so much as lifitng a hammer or a paintbrush. If that rehabber had rehabbed it as Steve did, he or she would have still made $40,000 or thereabouts within two months.
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$80,000 in profit for a one or two month rehab job is nothing to sneeze at, and as the old saying goes, you make money in real estate when you BUY property, so when you buy a house for $80,000 in a neighborhood of $200,000+ houses, making a nice profit is pretty easy.
TV shows such as Flip This House & Flipping Vegas, which air Saturday mornings on A&E are chock-full of episodes such as this, and very educational.
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bullshit! day and a half siding, sofit ,fascia gutters....? takes time to setup/prep no way it was done that fast
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Here are the real numbers for those who want to know realistically what happened in the end
They bought it for $80,000 in April 2005 and sold it in December 2005 for $214,900. Figure if he said the rehab was around $50,000, it was probably a little more. It was a nice deal, and they seem to know what they are doing.
Great Work Steve!
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Loved this series. Very interesting and informative
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did anyone ever buy that house?
BrownBiz 3 years ago
Yes, it was sold for around $225k I believe.
FlippingHomes 3 years ago