AMAZING DIY HOUSE FLIP - $90,000 in profit!
What The Flip・14 minutes read
A couple flips houses, facing challenges, but overcoming them with hard work and hands-on involvement. They purchased a property needing extensive repairs, obtained a construction loan, and ultimately made a significant profit of $90,000.
Insights
- The couple purchased a 2,000 square foot property at a low price per square foot, highlighting the importance of strategic investment decisions in real estate flipping.
- Their hands-on approach to renovation work not only saved money but also resulted in a substantial profit of $90,000, emphasizing the value of active involvement in property projects for financial success.
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Recent questions
How do flippers make a profit?
By purchasing and renovating houses for profit.
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Summary
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Couple's DIY Renovation Yields $90K Profit
- The couple, as flippers, purchase and renovate houses for profit, encountering unexpected challenges with their latest project.
- They decided to focus on working diligently to overcome the issues they faced.
- The video serves as a wrap-up of their recent project, detailing the decision-making process and the work they undertook.
- They prefer to handle most of the renovation work themselves to save money and be more involved in the process.
- The house they bought was a 2,000 square foot property at $44 per square foot, with potential for significant profit based on neighborhood comps.
- Extensive repairs were needed, including a new roof, windows, and other exterior fixes.
- The interior required cosmetic updates, with the kitchen and bathroom being particularly challenging.
- They obtained a construction loan for major projects like the roof and windows, totaling $109,000.
- The couple opted to paint the brick exterior for curb appeal, leading to a significant transformation.
- By doing much of the work themselves, they were able to sell the house for a profit of $90,000, showcasing the benefits of hands-on involvement in flipping projects.
