Products You May Like
Fixing and Flipping Houses | Fix and Flip Case Study
Register for the Fixing and Flipping Houses Webinar:
? https://www.lexlevinrad.com/fixandflipwebinar/
In this video, I am showing you a check from the proceeds of the sale of a house that I fixed and flipped.
This house was purchased for $83,000 directly from HUD and I spent around $25,000 repairing this house. I have another video on my YouTube channel showing you the house after I purchased it (see the video with the red door). I installed granite counter tops, new flooring, central air, new kitchen cabinets and renovated both bathrooms. The total cost including repairing the fence, a/c and appliances was a little less than $25,000.
I sold this house after listing it on the MLS for $169,000. When I purchased it, I thought I would be able to sell it for at most around $149,900. But after reviewing the comparable sales and active listings (before I listed it) I felt confident that I could get more (which I did).
My check from the proceeds of the sale after paying off the private lender was a little more than $75,000. I also received a commission check of a little over $5,000 (because I was the listing agent and listed the house myself – tip get your real estate license).
So basically my gross profit on this deal (after paying for repairs) was around $55,000 before interest costs and insurance. I netted around $48,000 net net in my pocket after interest and closing costs.
Keep in mind that this check represents gross proceeds of $55,000 which is almost exactly equivalent to the Median Household Income (before taxes) in the U.S for last year.
It’s kind of crazy that you can make as much profit flipping real estate (1 house) as you can working full time on a job!
And what’s even more crazy is that you can do this and borrow the money from a private lender (not all of it but around 90% of it like I did).
On a percentage basis $48,000 profit on a $83,000 investment represents a return of 57% over 6 months. But I borrowed most of the money so the return is actually way higher. My out of pocket cash investment on this property was around $38,000 which was the $25,000 repairs, plus the down payment and closing costs.
Making $48,000 net on a $38,000 out of pocket investment is a 126% return in 6 months (and people ask me why I don’t like investing in the stock market ?). You can make way more money investing in real estate fixing and flipping houses like this. (side rant get the heck out of stocks NOW).
I want to show you how to make money ? fixing and flipping houses like this. You can make a very good living if you know how to buy a fixer upper, fix it and flip it for a retail price.
I have a Fixing and Flipping Houses Boot Camp coming up where I spend 3 days personally teaching new investors like you how to fix and flip houses like this.
I want to show you how to fix and flip houses like this!
At the boot camp, I spend two days in the class room and and we spend a half day on a bus trip. I take my students to Home Depot and show them how to calculate material and labor costs, how to estimate repairs and calculate After Repair Value (ARV).
I show you how to calculate how much to offer on a property (maximum offer price) and where to find properties (online auctions and offline from motivated sellers).
Here is a link to the Fixing and Flipping Houses Boot Camp:
? https://www.lexlevinrad.com/fixing-and-flipping-boot-camp/
I have a brand new training webinar on fixing and flipping houses.
You can register for the webinar at this link:
? https://www.lexlevinrad.com/fixandflipwebinar/
If you are brand new to real estate and want to learn more about wholesaling real estate and how to wholesale and flip houses, then please register for the free wholesaling real estate training at this link below:
REGISTER FOR THE FREE TRAINING
? https://www.lexlevinrad.com/webinar
SHARE, LIKE, COMMENT
Please share, like and comment on this video. I will personally respond to all questions and comments ?
SUBSCRIBE TO MY YOU TUBE CHANNEL
http://www.youtube.com/lexlevinrad?sub_confirmation=1
CONNECT WITH ME ONLINE:
WEBSITE: http://www.lexlevinrad.com
FACEBOOK http://www.facebook.com/lexlevinradrealestate
TWITTER http://www.twitter.com/lexlevinrad
INSTAGRAM http://www.instagram.com/lexlevinrad
LINKED IN http://www.linkedin.com/in/lexlevinrad
PINTEREST http://www.pinterest.com/lexlevinrad
LISTEN TO MY PODCAST ON ITUNES:
https://itunes.apple.com/us/podcast/investing-in-real-estate-with-lex-levinrad/id1321120273?mt=2
LISTEN TO MY PODCAST ON STITCHER
https://www.stitcher.com/podcast/lex-levinrad/investing-in-real-estate
LISTEN TO MY PODCAST ON GOOGLE PLAY
https://play.google.com/music/listen?u=0#/ps/Iiv7qpkwc77u5lmgaovhhces5wq
DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING
Download a FREE copy of my bestselling book “Wholesaling Bank Owned Properties” at https://www.lexlevinrad.com