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In this video, I am showing you a check from the proceeds of the sale of a house that I fixed and flipped. The net check from the proceeds was for $121,248 which is one of my best fix and flips to date. It helps that we are in a very hot market. You can definitely make a lot of money fixing and flipping houses, which is why you need to learn how to do this. You can do that by attending my Fixing and Flipping Houses Boot Camp.
This house was purchased for $115,000 from a seller who had inherited the property from their grandmother. The seller found me from a direct mail campaign where I had mailed him a motivated seller “caricature” postcard which Is basically a postcard with a caricature artist drawing of my face. I mailed out this postcard to an inheritance list that I purchased from a list broker.
The seller was not aware that the house had to be “probated” to transfer the name from the Estate to his name before he could sell the house to me. This was a nice large house with a swimming pool that was perfect for a fix and flip. The rehab budget on this house was initially around $30,000 but I ended up spending close to $40,000 repairing this house – mostly because of repair to the swimming pool.
The house was listed for sale on the MLS for $260,000 and received multiple offers and sold very quickly (within a few days).
The net profit to me from fixing and flipping this house was around $82,000 (after all repair costs, commissions, interest and fees).
Like I said, you can make a lot of money fixing and flipping houses. For many people, the profit from just this one fix and flip equals their annual salary (or more).
Do you want to learn how to fix and flip houses like this? Start out by attending the Fixing and Flipping Houses Boot Camp.