Just Bought Another House to Flip

I set a lofty goal to make $100,000 a month flipping houses this year. To do that I have to buy and sell at least three flips a month. So far in January I have bought 2 flips, and sold 2 more. I am set to buy two more houses this month an sell at least one more. This post is all about the last flip I bought.

What are the details on this house flip?

I bought this house from a wholesaler. A wholesaler is a real estate investor who finds good deals, and sells those to other investors without making any repairs.

https://investfourmore.com/2017/02/20/how-to-get-a-great-deal-from-a-real-estate-wholesaler/

I bought the house for $175,000. The home needs about $15,000 to $20,000 in work and it should sell for about $245,000. I will also have about $15,000 in selling and carrying costs with the property. The house needs very little work compared to most of my flips, but we will still repaint the interior, replace the kitchen, replace a few windows, replace the roof, redo the flooring, and do some electrical work. You can see a video of the home below:

To reach a goal of flipping three house a month, I have to get a lot of deals. I find deals in a number of ways:

MLS
Wholesalers
Auctions
Networking
Facebook
Craigslist
My own marketing
Zillow

You can find more on how I get deals here:

https://investfourmore.com/2017/10/09/how-to-find-a-great-deal-on-an-investment-property/

My other biggest issue is getting the homes fixed. I have a number of contractors, sub contractors, and my own employees who fix the houses.

https://investfourmore.com/2017/05/22/flip-20-houses/

Finally I have to pay for all of these houses, which is not easy either. I use:

Local banks
Hard Money Lenders
Private Lenders
My own money

I also have a great team that helps me including my awesome project manager Nikki. There is no way I could do all of this myself.

Questions? Leave a comment below and I will respond as soon as I can.

Here are details on all my flips: https://investfourmore.com/flips/