Another House Flip is Finished and Ready to Sell!
I am addicted to buying crappy houses, which makes house flipping the perfect job for me! I sold 26 flips last year and so far this year I have sold 3 and bought 4 more. We just had another project finish up and I have a lot of pictures, and videos to show you how it went.
What are the numbers on this flip?
I bought this house from the MLS for $151,000. I am a real estate agent so I made a 3 percent commission when I bought the property. We spent about $25,000 on the rehab, and will have about $15,000 in selling costs and carrying costs. We are listing the house for $214,900, which would make me about $30,000. Most of our houses have been selling for more than asking price in our crazy Colorado market. The last house I listed for $259,900 went under contract for $270,000! Hopefully that happens with this one as well.
You can see the video below before it was repaired
As you can see it needed some work! We ended up painting everything, replacing the kitchen, the bath, redoing the floors, replacing fixtures and more. You can see the after video here:
What are my goals for flipping this year?
I sold 26 flips last year and I want to sell 36 this year. It will be a crazy year as I am also opening my own real estate brokerage, and I just bought a 2.1 million dollar building. You can find more information on all that below.
https://investfourmore.com/2018/02/09/podcast-138-starting-real-estate-brokerage/
https://investfourmore.com/2018/02/05/commercial-rental-property-21-bought-2-1-million-68000-sqft/
You can also see all my flip projects here:
https://investfourmore.com/flips/
More pics of the house
Sounds, and looks like business is going well. You're pretty handy with flipping these houses. Keep up the good work, and good luck with your brokerage.
Thank you!
Look nice now. I Am going to be in the (real estate business) for a few months lol I will need to sell my house and buy another one for this summer. Good part is this one will probably be sold before being listed and I'm moving into an other area where the houses are really cheaper.
That is a bonus. Take your time to get a good deal with the new house!
You already have a buyer for your house?
I know 2 and my relator knows 2 more. But I have to wait a little before selling.
You got rid of the wood stove. :( lol Could you have made bigger windows for the bedroom?
That was a gas stove and it did not help value at all. You could make the windows bigger, but it would not help the value either.
Wow! I think it would have been cool to switch it to wood although that might not help the value. I know I like bigger windows. I'm surprised buyers don't care.
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Beautiful house. Keep up the good work!
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