I REGRET Not Doing This Sooner (Made $33,000) | Real Estate Investing
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A real estate flipper shares his experience of flipping his second house successfully. He discusses the differences between his first and second flips, highlighting the importance of hiring professionals, looking past minor issues, and staging the property. He found the property listed for $79,000, which had been on the market for two to three months, and noticed that there were no pictures of the basement. Upon inspection, he found inches of mud in the basement, which he assumed was a major foundational issue. However, he called in an expert who explained that the concrete was just extremely porous and that the issue was not a big deal. He negotiated and got the property under contract for $67,000. His initial rehab budget was about $30,000, but he decided to hire things out and lean on other people to avoid the mistakes he made in his first flip. He spent $35,000 on the rehab budget, which was $5,000 over his initial budget of $30,000, but was still able to make a profit of over $33,000. He listed the property for $145,000, which was higher than the other houses in the area, but he was able to get a full price offer within two weeks. The speaker encourages viewers to get into the real estate industry, whether through flipping or buying rental properties, as it is one of the best things one can do.
A real estate flipper shares his experience of flipping his second house successfully. He discusses