On this video, I’m at a home that’s about half manner by way of the rehab course of. I confirmed you this similar home in a earlier You Tube video after I first received the home again (after the tenants had moved out).
Being that the market is so sizzling proper now, and it’s a good time to be a vendor (and never a good time to be a purchaser) I’m profiting from rental properties the place the lease expires and the tenant strikes out. Usually we might clear up the home, and get a brand new tenant, however available in the market at present, I see this as a primary alternative to take some cash off the desk by fixing the property up actually properly after which itemizing on the MLS.
By doing this I’m tapping into the feeding frenzy and lack of houses which can be accessible on the MLS. I’m additionally in a position to get high greenback since there may be very restricted stock competing with me (as a result of there are so few listings on the MLS). That is the tightest stock I’ve ever seen on the MLS in virtually 20 years of investing in actual property. Like I stated it’s a good time to be a vendor and a horrible time to be a purchaser (except you purchase proper).
The home on this video is a wooden body home with stucco on the outside. A few of the stucco wanted to be repaired, so we had a stucco firm are available to try this. I additionally wanted to have an alarm system put in as a result of the home was damaged into a number of occasions (see the prior video that reveals proof of the break in).
Now we’ve had the kitchen cupboards delivered, the flooring is completed, and we’re engaged on the lavatory. We should always have the ability to have this home near being full in round 3 to 4 weeks. The largest maintain up is getting the granite countertop and home equipment (they’re each on again order).
This home must be a straightforward checklist on the MLS at $195,000. Not unhealthy contemplating I paid simply $32,000 for this home 5 years in the past. If you wish to discover ways to repair and flip homes like this be sure you attend:
The Fixing and Flipping Homes Boot Camp Click on HERE!
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