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Rehabbing houses 101 – How to flip a house step by step
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Hey welcome back to a video update on my latest rehab project in Tempe, Arizona. Demo has been completed and work has now begun and I am happy with the speed and current costs estimates of all the work done so far.
Now, I am documenting how to rehab a house step by step to help you understand the steps involved in a home renovation and help you realize that you don’t have to have extensive construction knowledge or a bunch of money to rehab a house.
But what you do need is specialized knowledge of how to find, fund and manage a rehab project! That’s where I come in. We purchased this house off of a wholesaler for $204,000 and it’s ARV (After repaired value) is approximately $315-330,000. It needs 40-50K worth of work and my partner is licensed so there will only be 3% total commissions on the sale which will go to the buyers agent. Other than that we funded this project using a private money loan which will costs us 12%.
By the time the project is over we plan on netting at least a 10% return on the money invested after paying everyone in the deal and do it in less that 3 months.
I hope you like this rehabbing houses 101 video and I will keep you updated as the house progresses.
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ABOUT CODY:
Cody Sperber is a real estate investor, cryptocurrency investor, social media influencer, and entrepreneur from Arizona that has successfully flipped over 1000 houses and is currently one of the largest investment educators in the world. He’s been featured in Forbes, INC, Entrepreneur, Buzzfeed, and Huffington Post as well as on multiple episodes of Million Dollar Listing Los Angeles.