House Flipping Couple

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This is an example of a successful flip house story. If you’re interested in entering the business of flipping houses, this is a great example to follow. This particular flipper made a 100% profit on their investment, which is something all flippers strive for. To achieve this level of success, it’s important to have a clear vision for the property, as well as the willingness to put in the hard work required to make that vision a reality. If you can do those things, then you too can achieve Flip House Success!

Here is how this story goes. I went and looked at this house, it had been vacant for about 10 years and was being used for storage. yes, ten years and you can imagine what was going on inside. It was filled with junk floor to ceiling. You could hardly see the floor, the walls, the ceiling. It was LOADED with junk.

For the people who attend my course one of the things we love when working with ‘hard money” lenders is getting them involved in the project. This helps create buying and they get to see exactly how much work you are putting into the project. Obviously, this process needs to be managed and we cover that in-depth. So in this case one of my private money lenders went with me to see the property, he likes to see the house before we start and then wants to see them when we are done.

We have been doing business together for over 10 years and this was the first time he asked if I was sure I wanted to tackle this rehab. He was a little leary but trusted that I would make it beautiful.

Because of the junk and the condition it was a long project that lasted nearly 9 months. During that time the value of homes in the area had gone up, and we were able to ask for another 50K over our initial project retail value, making our profit on this flip over 100K. HOME RUN BABY!

This is just one example of a successful flip house story. If you’re interested in entering the business of flipping houses, this is a great example to follow. This particular flipper made a 100% profit on their investment, which is something all flippers strive for. To achieve this level of success, it’s important to have a clear vision for the property, as well as the willingness to put in the hard work required to make that vision a reality. If you can do those things, then you too can achieve Flip House Success!

If you really want to understand why we flipped this house vs adding it to the portfolio well learn more about our classes and let us help you build your cash flow portfolio.

Instead, I was wanting to hold everything but soon realized that I needed to Buy and Flip a property to pay for all the costs I had on the rentals. In this case, I lost some Solid Rental Properties with great equity to protect “Good Properties” with nice cash flow. WIth stronger planning and more experience, it could have and should have Good to Great instead of Great to Protect Good.

The end result was in order to cover the costs of the group of properties I had to let this one go in a flip. YES it worked out and we made money, but we left lots of money on the table that could have gone into our pockets. Using the Trifecta Process we found and secured a 6000-square foot duplex. It was in great shape but needed some updating which we put in after we closed on the property. We were able to get it for 185K, put 70K into the house, and sold it for 295K. The net was just under 50k which promptly got eaten up by the notes we carried on the first group.

Here is the moral had we held the duplex it would be cash flowing at a higher rate than some of the properties we were protecting. It also would have appreciated faster and paid down fast securing better deals in the portfolio long term.

Yes, it worked out but that is not the point of the story. Planning your portfolio outcome is critical. Our students are building legacies not side hustling future depreciating assets. I love this Lesson.