Fix and Flip Progress Video on the House Bought from YouTube!

Fix and Flip Progress Video on the House Bought from YouTube!
Flipping



I bouhgt this house from a YouTube viewer a couple of months ago! They comment on one of my other videos and then we came to an agreement and I was able to purchase it as-is. The home needed some work but we have been making progress on it. We are using a contractor that we have used in the past but took a short break from. His prices were getting a little high and he was getting a little slower getting the work done,. but both of those issues improved on this job.

We paid $195,000 for the house and it needs about $35,000 in work. We will be trying to sell for aournd $290,000 and will have another $25,000 in other costs for selling, carrying, and financing.

The home was very dirty and had a lot of stuff in it, but it was not in terrible shape. It is also one of the bigger houses in the area, which makes it a little tough to value. We flipped the house next door a few year ago and It was less than half the size of this house.

You can see the before video of the house here: https://www.youtube.com/watch?v=eNLepoHI41o&t=481s

Here is the house next door when we flipped it: https://www.youtube.com/watch?v=qMQR0v9cako

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped close to 200 houses and routinely flips 15 to 25 houses a year. Mark owns 170,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
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22 Comments

  1. Always enjoy your content Mark. Its incredible how much our content is exactly alike. You've been doing this much longer than me so I guess I got it from you. You'll be happy to hear I now have 3 flips going at the same time. FIRST TIME EVER! Thanks for all the great content and I'll continue to follow.

  2. Glad you got the Diablo up and running, it's bad ass. The color to part of the garage was sort of like your car. I'd finish it in that color if it were me. You got rid of the antenna in the back I see.

  3. I have lived in California, Texas and Florida. I all those States you cannot call a room a bedroom if it doesn't have both a closet and a window. And, the window must be egress.
    I agree 100% that you can overdue the rehab and lose money. You have to check "Comps" for same, same houses within a tight radius, same Sq. Footage, same bedrooms and most importantly the same BATHROOMS. A 2 or 3 bedroom house with only ONE bathroom is VERY hard to sell. Getting ready for work or school and everyone TRYING to cram into the ONE bathroom repulses most home Buyers. Reducing your prospective Buyer pool quite a bit.
    I personally have over done the rehab on houses and still made a profit but not nearly what I could have made IF I stayed within a budget based upon the "COMPS". My screw up.

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