Before and After House Flip with a $31,000 Profit and Apprasial Issues!

[@Jeffhuebner]

I like the before and after in the same video format:)

[@giovannierivera7046]

Nice vid! Had a question how do you cover the rehab costs? Like Is it cash out of your pocket or is that covered also by the private money loan?

[@jdrose1000]

Jeff Huebner Yes me too! I can never find the ones that go together!

[@keithhicks3358]

@@giovannierivera7046 great question

[@giovannierivera7046]

@@keithhicks3358 found out that in some cases you can get the private money lender to also lend for rehab costs and other cases they come out of your pocket depends how good is the deal and how good of a relationship you have with the lender.

[@keithhicks3358]

@@giovannierivera7046 Yes, I heard the same. Thank you for your comment. 😊

[@glorgau]

Nice! It's a business that provides real value - updating housing stock - to a community. The average homeowner couldn't get this amount of work done for that cost.

[@investfourmore]

Well said!

[@evacallen9265]

i dont know why but for the past 2 weeks every time i am bored i watch your videos. they are just so interesting to me, i love how you keep it real with the commentary and i love watching the progress

[@investfourmore]

Thanks!

[@skiprocker5751]

It looks like we all do our houses in the same colors. I started flipping six years ago. Gray paint throughout. Brushed nickel everything. Fixtures, doorknobs, hinges etc. High hide white trim, six panel doors and baseboard. Engineered hardwood, contractor grade .69 cents a square ft carpet. I get my cabinets and counters at an import salvage company in Columbia SC where I live. Great job, looks good. Flip on :)

[@investfourmore]

We do change things up a bit

[@andrewchin2626]

Mark handled the project brilliantly. The rehab costs, financing costs, and carrying costs could pile up easily and eat up profits.

[@investfourmore]

Thanks!

[@museumandtravel]

I have decided not to flip but concentrate on rehabbing my personal homes and my rental properties. I am a fan of the show.

[@investfourmore]

Thanks!

[@keithhicks3358]

Gret video. I like how you leave nothing out. The numbers breakdown is awesome. I like how you mention in your videos what would be wasted money. I'm interested in doing what your doing in the suburbs of Chicago. I just subscribed.

[@investfourmore]

Thanks!

[@keithhicks3358]

@@investfourmore You're welcome. When you do hard money loans, do you wrap all costs and rehab in to the loan? If so, how do you pay for any fees upfront? Checking your link out now to see if the answer is in there: investfourmore.com/flip/69/ Ouch! $997.00? Thanks I'll pass Lol!. About to get on a free couching call. Thankd again for the vid.😊

[@investfourmore]

I paid way more than that for education! The funny thing with free is you usually get what you pay for! My guess is they tell you nothing but try to get you to buy into their 30k coaching program.

[@MrScientifical]

YOU ARE A GENUINE FLIPPER SIR YOU MAKE IT LOOK SO EASY.

[@investfourmore]

Thank you!

[@brycesawyer2477]

Thank you Mark for this very informative video. Especially for breaking down the numbers at the end. Most people don’t know just how much it cost to flip a home. So much more than just the repair costs.

[@investfourmore]

You are welcome!

[@WonkaIndustries]

This is so interesting. Glad I found this channel.

[@investfourmore]

Thank you!

[@alfsilva]

Again, another great video. Most interesting is to see the before and after. We can learn inmensily from it and the numbers? Many thanks for sharing. You are not selfish at all. Congrats

[@anthonyballard9051]

I'm glad you're enjoying your new office building Mark, and I hope it's working out very efficiently for you all!... 🙂

[@investfourmore]

Thanks!

[@carolinablue6987]

That house has sooo much potential. Good find.

[@margaretmoore3595]

Another alternative would be to become a 'lender' yourself and draw up a "Rent to Own" contract between you and the buyer. They would have to come up with a $5,000 to $10,000 "Ownership Deposit" and agree to a definite timeline as to when they would be able to purchase the home, ie: 18 months. A percentage of their monthly rent would go towards the principal during the 18 to 24 month period (as agreed to in the contract). Once the agreed time has arrived and they are not able to secure a loan, whether conventional or non-conventional, then they lose the right to purchase the property and forfeit the deposit, which you rightfully keep (all verbiage in contract of course). They would simply revert back to being renters. Make sure the original contract contains clauses making them responsible for any and all repairs to the property and appliances. This way, you're off the hook in replacing anything they damage. These clauses have to be gone over very carefully with the renter/potential buyer. This may be a solution to your having to endure carry costs while you're waiting to sell the property. Of course they would have to pay a damage deposit upon moving into the property in addition to giving you the down payment/deposit toward ownership. This way you don't have to incur carrying costs and you are giving them an opportunity to not only purchase the property, but assisting them in "buying time" to qualify for a loan. They would be "Owners in Training" while at the same time paying your mortgage and utilities. Said carrying costs would fall on their shoulders now.

[@MrChrisRenz]

Just bought my first flip. Similar to this house. It's in New York. I'm very excited to start!

[@investfourmore]

MrChrisRenz Good luck on it!

[@MrChrisRenz]

Mark Ferguson - InvestFourMore Thank you! Do you have a specific order of operations on your rehabs?

[@joshuacassino7297]

how did it go??

[@MrChrisRenz]

@@joshuacassino7297 A little less than a month of work left. Hardest part is finding contractors. Closing on our second flip next week. Going to view a possible third flip today.

[@ngatupuna3316]

@@MrChrisRenz update?

[@dropthebassline]

Would you have still bought the house if they held firm at $190,000 when they dropped the price the first time? If so, would you have done less rehab to ensure a better profit?

[@investfourmore]

No, I would not have bought at that price.

[@jackieoman6695]

Omg ! Im freaking hear ! Thats a enormous amout of money for a split level ! I think that would sell for 180 brand new where i live .. But prices are creeping right now !! Definitely a sellers market !

[@Donnie9by5]

I prefer the before and after all in one video!

[@ALT-HEX]

Like that you got rid of that doggie door. Buddy of mine had one for his cat's but then once in a while, random animals would get in. Had a possum roaming through his basement once. Personally, when I see a doggie door when looking at a house for sale, while probably not true most of the time, I can't help but think of vermin. rats, etc.

[@investfourmore]

Holy crap. never thought of that!

[@billymasoner3735]

Looks great, with the exception of the flooring on the top floor, those gaps are terrible. Better get on your flooring dude and see what’s up.

[@jdrose1000]

Turned out very nice! People should just hire you to redecorate!

[@KimberFarms]

Just noticed!! 22k subs! Congrats Mark! Nice flip too!!

[@investfourmore]

Thank you!

[@devinelyDsigned]

Mark, thank you so much for sharing so much of your knowledge. It is so beneficial as I hope to purchase in the very near future. Congrats on your new brokerage!

[@investfourmore]

devinelyDsigned thank you!

[@g.h.1726]

Why didn't you pay a little bit more and get the utility room finished?

[@investfourmore]

Because it would have been wasted money

[@nsfitter3134]

Good stuff Mark. Thanks for sharing these types of videos.

[@yunosiyy9619]

I would have taken down the big ass wall in the middle of the kitchen but I don’t know if it was a support beam but it looks good planning on doing them same stuff you doing when I’m in older

[@JeffLifeInReview]

Loved the video and transparency. Just curious, in retrospect, would the numbers have supported accepting that first deal at the lower $250,000 appraised value over carrying the property for the additional 4month plus mortgage and expenses?

[@investfourmore]

it only took an extra month so it was worth it

[@seanathon24]

Great channel man. I wish I had the knowledge and the comfort level to do what you do. I live in Sacramento and I wish I got in the game back in 2011. Anyways, keep up the good vids.

[@investfourmore]

Thanks, the best way to learn is to do it

[@PianoKeyzOfficial]

"$260,000 and a new appraisal to support that value as well" I thought the original appraisal sticks with the home.

[@mk17rmb]

PianoKeyz He said in the comments that FHA appraisal sticks with th e but not with conventional

[@investfourmore]

Yup

[@yolandapagan5656]

@@mk17rmb p

[@AllAboutPurple]

I wonder if you could create a side door, window, closet, full bath…..for a rental in the garage lol

[@roneeholmes2126]

I love this house you did an awesome job

[@marketopen3577]

you should do this format more often

[@deeb2441]

Would love for you to come and do some homes here in Detroit, Michigan. Also do you rent to own.

[@Linn85]

Here in Norway you will not get paid for your house when it looks like that. The buyer can withhold money either to compensate for the mess or get someone to clean up.

[@nicholasavis1705]

The guy was desperate to sell as he said, about to go into bankruptcy

[@Howelton2020]

Great job, but if I bought it that slim wall between the kitchen and open area would have to go.

[@bc1248]

Wowza! Great work! Though I don’t agree with the carpeted stairs. The steps should have been tiled or made wood. And you could have backsplashed the kitchen. Come on man, don’t let the ball drop on the all important small details!

[@investfourmore]

Don't need too. We had appraisals problems and it sold for less than contract price already. Adding more costs would be money down the drain.

[@bc1248]

I’m not an expert, you are... With that said, I still think you should cover the small details in your projects. If a kitchen is real small like the one you did with this house, then backsplash it. Humans are shallow creatures who love prettiness. They see something pretty and goes gaga. I believe a house would sell faster if the small details are covered and make people’s eyes pop. I know that I for one are a very shallow creature, and if I was house shopping and saw your house I would have forgiven the no backsplash in the kitchen but those carpeted stairs would have been a deal breaker for sure.

[@johnconway8070]

I have watched dozens and dozens of these house-flip videos and it seems the same colour schemes are always used. Is it because beige for walls and carpets is neutral or at least *fairly* neutral and can easily be painted over ? I mean, do many of the new tenants want to use different colours on their walls and possibly swap carpeting for laminate flooring for example ? Just interested ;) .

[@investfourmore]

we use a lot of different colors. Neutral always sells better

[@jackieoman6695]

Oh man ! Great job!! I agree with FHA appraisal tho ! So good thing you worked it !!

[@investfourmore]

Thanks

[@besharalbaka385]

Hi Mark, glad I found your channel, I am watching your videos since yesterday! I watched more than 10 long once since then, thanks for sharing, just about starting my 2nd flip in Pittsburgh Pennsylvania! what is the price range for carpet and floor do you recommend? Is it engineered hard wood or cheap/mid/exp laminate? Is it $1/$2 sq ft carpet!

[@investfourmore]

We always get the fireworks carpet from Home Depot which honestly I am not sure how much it is. Usually the 1 to 1.5 laminate from HD

[@bradysg]

That was a great transformation! I really liked the colors inside the finished house! You're my idol! #FergusonAspirations

[@investfourmore]

haha, thanks Brady!

[@michaellawrence2512]

Grow house! I knew when I saw that Honda in the driveway.

[@mAUoalajkso]

I really like the content you are providing! Can you briefly tell me why you prefer Conventional over FHA?

[@investfourmore]

FHA appraisal sticks with the house if it comes in low. I would have had to sell it for $250,000 if I got another FHA offer, but with conventional, we got a $260,000 offer and the chance for a new appraisal to come in at value which it did.

[@LisaMarie51968]

Beautiful home definitely worth what you’re asking!

[@trelynpounds3325]

Which states have you bought houses in? Seems a little difficult to flip houses across the US. GREAT JOB THO 👌🏾💯💯

[@investfourmore]

Everything in Colorado and one in Cleveland.

[@nut913]

Great informative content!!! Couple questions. Are you paying cash for these houses? Do you think it's possible to do this with an FHA loan? Or on a loan/loans and still be profitable?

[@investfourmore]

I use loans for all of them. If you use FHA you have to live in the house for a year

[@sheltonlovesr.8941]

Thanks for having all info on one video.

[@investfourmore]

You are welcome!

[@alfsilva]

Hello, a few questions. You actually changed the front door, didn't you? And do you install the same flooring even in the bathrooms, being a wet area? Thanks

[@holiday-td6hx]

What brand/kind of flooring (not carpet).....is in this house? I am re-doing my kitchen and want this (it isn't wood is it, is it linoleum(sp) ??

[@investfourmore]

laminate from home depot

[@trafficjam.]

turned out nice😉

[@jenniferneal9729]

I would have swapped the range and fridge, it would have opened up the kitchen a lil' more taking out that wall. Over all the place looks nice ( i hate the split level design ) but....to each his ( her ) own :)

[@carolynmarie5585]

I watch a lot of these videos and have noticed that in Colorado the walls in most houses are textured before the reno .... not smooth....and I wonder why. Have never seen this where I live.

[@investfourmore]

yes, almost everything is textured

[@markwillis5472]

Front door sticking..is that do to found. probs.??

[@DemonzSSS]

I really love this house.

[@califdad4]

question, I think you are in Colorado, so why would they build a house without a attached garage and just put a parking pad in the front yard? Seems odd. I think parking pads in the front coming right up to the house looks awful. Nice job on the house though, looks really good inside

[@investfourmore]

Because they wanted a huge garage and it was a narrow lot

[@califdad4]

@@investfourmore those just look awful, nice redo though and I would take the cement pad out park in the garage in back and have a nice entrance to the house

[@infobridgeTM]

man im in denver area looking for a nice small house from the last one year. and i cant really find anything in the range of 250k

[@investfourmore]

Denver is tough

[@scottmicheal1781]

the only trusted and legit cash trade investment platform, I will always deal with crypfundsinvest.com, I got $500000 after investing with them, I will never stop dealing with crypfundsinvest.com He can help you with it

[@thejohnmachine]

Mark, what kind of flooring do you tend to use in the living room/kitchens/bathrooms? Looked like LVT in this one? Or was it laminate?

[@investfourmore]

Laminate I believe but Nikki always picks it

[@user-cm3tj6dl2x]

You do all this hiring out the work? Or do you do a portion of it yourself?

[@investfourmore]

hire it all out

[@icawn]

what a great market. did you move there for the boom, for a previous career, or were already there in growing up?

[@investfourmore]

I was born here

[@melanieedge3943]

What shade of paint inside is that? I just bought a house that looks exactly like this one from the exterior but in green and am about to flip it.

[@investfourmore]

not sure

[@livinglife9762]

You have great videos and information, I think if you vlogged day to day operations you'll get much more traction on your channel. Documenting the flip might help, that way you do Day 1- Kitchen remodel... ect. you can film it all at one time and just release them day by day ect.

[@investfourmore]

Thanks! I don't have time to do a whole lot more videos, but that would be cool.

[@john55223]

It amazes me that people are willing to pay 260k+ for a property, yet the appraisal is only 250k. That doesn't make too much sense considering that it shows the market supports the price, and people are willing to pay it. #TheSystemIsRigged.

[@investfourmore]

I know. I just posted a video on fraud and that is one reason appraisers are ultr conservative

[@reynolds5454]

Mark, I’m a long time watcher and have learned a lot from your vids. I was wondering is your ultimate goal to pay for these deals with your own cash? It seems to me that in most cases that would increase your profit by about 50%. Or do you plan on always using other people’s money so that you can ultimately have more fix and flips happening at the same time thus increase profits that way? I personally like to pay cash for my deals because I don’t like giving the banks money or the hassle of getting the loans but at the same time I only do one deal at a time so my volume is no where near yours. Thanks!

[@investfourmore]

I can do three times as many deals by getting loans. I will make $90,000 on three flips versus making maybe $40,000 on one without financing.

[@krypttoenight9971]

You stated the the repair cost wasn't broken down, I'm just curious, say you already had EVERYTHING you needed for repairs, Would the repair cost would have been significantly? Cheers

[@investfourmore]

Not sure what you mean

[@michaelburgoyne115]

Hey Mark, what flooring did you use on this flip, looks really good.

[@investfourmore]

It was from Home Depot. I would have to check to see exactly what kind.

[@katep5918]

Yes, I was wondering the same thing. It’s looks beautiful with the paint color.

[@trumpnorthcarolina]

Great job!

[@somescorpio1798]

Conventional loans require appraisals too, right? I don't get why there would be a difference between FHA and conventional appraisals.

[@investfourmore]

Yes they do. However, the FHA appraisal sticks with the house for 6 months. Once you get one FHA appraisal you cannot order another one and hope it comes in higher. WIth conventional loans, the appraisal is different from FHA and does not stick to the house. The buyer was able to get a new appraisal that did come in higher.

[@sungn4512]

nice set up & explanation thanks

[@investfourmore]

No problem!

[@allnursesgotoheaven2604]

Hello ! I’m new to the channel and I also want to jump into real estate. Any books you recommend?

[@investfourmore]

Have you read mine? I have 8 on amazon www.amazon.com/Mark-Ferguson/e/B00FP1LZ1C

[@allnursesgotoheaven2604]

Mark Ferguson - InvestFourMore great thanks !

[@douglasshaver9940]

It's a really nice house

[@investfourmore]

Thanks!

[@SevenDeuce072]

For your luxury plank do you use padding? And leveller?

[@investfourmore]

Have to ask my guys

[@SevenDeuce072]

Mark Ferguson - InvestFourMore thank you for the response. If you do find out please let me know. I am just curious on whether it's needed. I understand it's easier on your footing

[@mDOTsanei]

Can’t you dispute the appraisal?

[@investfourmore]

Yes, we did and it was not changed

[@hannahharder2682]

Wow I cannot believe how cheap those taxes are! Lol

[@investfourmore]

Hannah Harder yes, $800 a year.

[@zeriyx]

states with low taxes in one avenue always get you in other ways. i have lived in oklahoma and texas my entire life. in texas, there is no state income tax. that sounds great, but when you renew your driver's license, pay for your car tags, pay for a state license, or pay your property taxes in texas, you often realize how much less the cost of living is in oklahoma. also, all those stupid toll roads in the large texas cities kill me. /coolstorybro

[@whiskeyyvv9353]

Do houses in where you are always need carpets in the rooms? Sorry I'm from hawaii so idk

[@investfourmore]

It si common at least in the bedrooms

[@lucyzulick]

great house

[@investfourmore]

Thanks

[@ulisz]

Hey mark love the videos great job would u recommend getting real estate license? I’d like to be able to flip consistently

[@investfourmore]

Yes, if you are doing enough deals.

[@wumitiaierken5854]

Hello Mark, do you use any property management software to track your filipings and Rental ? I am using Excel to track my rental and Filipings, but it is not dynamic and flexible.

[@investfourmore]

I do not

[@RichChigguh]

How do you typically fund your deals? i know on a previous video you said you dont really use Hard Money Lenders. Do you use PML?

[@investfourmore]

Private money and local banks

[@lsabellathehousekeeper3280]

Thank you sir Have a GREAT Day &I'll be back

[@investfourmore]

You are welcome

[@montrealstars60]

I'm not American, and I live in Italy, so I really don't know what MLS is. You keep repeating it. I tried looking it up and all I could find is Major League Soccer, lol. Thank you to whom will respond.

[@investfourmore]

Multiple listing service where houses are listed by real estate agents

[@montrealstars60]

@@investfourmore Ohhh thanks, had no clue.

[@thatsmalltowngirl4]

I've been to some sketchy and shady homes for my job out in Colorado and this one gives me that vibe... I've always wondered.. why does Colorado texture their walls like that??

[@investfourmore]

Always been that way

[@bookwormwonder]

It's like that here in WI...I was told it was so dirt wouldn't show up as quickly, thus they wouldn't need to be cleaned as often.

[@dillon863]

Just curious, I know this is off subject but what phone do you use to record? I am looking to get a new one but I don't like the price of the Galaxy S9, I was thinking maybe the S8.

[@investfourmore]

Dillon galaxy s8

[@brenden9758]

Awesome video, You could be much more efficient on your costs though. You should have been able to pocket like 50k from this, That type of cosmetic updating should be costing you under 20k not 34k, you paid way to high of an interest rate and the project I think you said took 8 months? seems like a long time, could have been cut down to 4 or less. I renoed a property almost identical to this and its just my 2 cents.

[@investfourmore]

I am doing up to 20 projects at once. If I had just one it could be done a lot quicker and easier. Labor is also very expensive here. Hard to find good workers that don't charge an arm and a leg. Of course I have other people telling me there is no way I could get the work done that cheap! It is all relative.

[@investfourmore]

it took 8 months for the entire process, not the remodel itself

[@JoseGomez-rx4ee]

whats the tax percentage you pay the IRS after 31,000 profit? I have no LLC.

[@investfourmore]

Ordinary income. if you have an S Corp it would probably be lower with new tax laws

[@JoseGomez-rx4ee]

thanks man.

[@investfourmore]

Yes

[@jdrose1000]

Do you buy houses outright? Or do you get bank loans to buy them?

[@investfourmore]

Loans

[@jdrose1000]

Oh wow so even if you don’t sell it right away you have to make mortgage payments?

[@thejittnextdoor3611]

jdrose1000 that’s a really good question. I’m curious myself

[@investfourmore]

@@jdrose1000 Yes

[@markwillis5472]

House is super nice though!!!

[@investfourmore]

Thanks! most likely not probably some minor settling or weather stripping is off

[@BiggThinggsTv]

I understand all the calculations, but where exactly did you get the actual $62,531 from,for all the repairs?.. bc it shows the loan just covered the price of the home

[@investfourmore]

That is all the costs, not just repairs

[@BiggThinggsTv]

@@investfourmore I guess my question is, when you get the loan for any house, where do you get the money to make repairs? Like do you use your own money for repairs?. . Example: a house cost $190,000, but it needs $32,000 in repairs, where do you get the $32,000 from?

[@investfourmore]

@@BiggThinggsTv i usually use my own money. But i have borrowed money from my rentals or family before as well

[@BiggThinggsTv]

@@investfourmoreso if it's your first flip, & you don't have equity in another home to tap into, what do you recommend you do to get money for the repairs, carrying cost, etc for a beginner flipper.? & also Thank You for responding to me & answering my questions, i truly appreciate it!

[@investfourmore]

@@BiggThinggsTv Hard money can get you a little more

[@Nelphoto]

Looks great!!

[@investfourmore]

Thank you

[@shawkitty2524]

What percentage does you Project Manager receive?

[@OfftoShambala]

Seems like u did not get much for your fix up cost... but if u can make money in the end, good for you... we could do that degree of fix up for around 15 000 but we don’t hire contractors to do the whole job

[@investfourmore]

Are you doing the work yourself? Labor is expensive in Colorado

[@OfftoShambala]

@@investfourmore yes, a lot of the work... this was one of the first videos I watched of yours... but, I was wrong... we might have been able to do what you have done for 25k, with a lot of sweat equity... prices on everything have gone up recently in our area and the currrent rehab we are on, it was nearly impossible to find "cheap" (not exploitive) labor help which is usually necessary to some degree... and considering how much time something like this degree of fix up takes... the last rehab we did just before minimum wage and values and rental prices went up in our area, we were able to do a LOT for around 6k, but not with full on kitchen remodel... that was probably around the beginning of 2017 and most of painting there was no labor on, because I did it, and it was a project we did for our dad, and as his daughter, I wanted to be there for him since he would throw twenties at me whenever I asked when I was a teenager LOL.... but, now I do not know if we could achieve that unless we were doing literally all the work and had access to some super good deals on carpet or flooring or something... and then if you pay yourself for your labor... it changes the way you look at the project profit margin my first impression was definitely wrong and I regret making this claim... and you pegged the reason for my impression... labor costs... I have full respect for you Mark... you know what you are doing and I totally appreciate that you are sharing your expertise... you have done a great job of putting together a very valuable resource... much gratitude! I am always now thinking, what would Mark do?

[@OfftoShambala]

I also did a lot of the work on my Dads house for free, not only because of the 20's, but he gave me his Datsun 260 ZX which I wish I still had. How cool was that for a first car!

[@investfourmore]

@@OfftoShambala nice. My sister has a 240z

[@tomash_354]

Do you buy new cabinets and kitchen appliances?

[@investfourmore]

Yes

[@dungluu9858]

How much is kitchen appliances ?if you don’t mind!

[@holiday-td6hx]

Did you include the $2K you kept of the one person's earnest money?

[@investfourmore]

Nope. !

[@elmyra.jackson]

Also, not being critical just want to know why flippers place kitchen cabinets that do not go up to the ceiling?

[@investfourmore]

They are much more expensive.

[@elmyra.jackson]

Mark Ferguson - InvestFourMore I understand. Thanks for answering!! You rock Brother!!👍

[@ruvilynkanyek9852]

Where is the property?

[@investfourmore]

Evans Co

[@Gabe-ss1hi]

Wait so you didnt buy the house out of pocket?

[@investfourmore]

Nope

[@ld7322]

If the kitchen and bathrooms are better quality, wouldn’t it appraise higher and you can sell it for more money.

[@investfourmore]

Nope,. Appraisers don't care

[@elmyra.jackson]

I'm curious to know if you work with an interior designer on your flips?

[@investfourmore]

Not really, Nikki my project manager helps

[@elmyra.jackson]

Mark Ferguson - InvestFourMore Wow, she makes professional interior design choices!! I used to teach interior design to high school seniors!

[@TheRubinre]

Miss Elmyra- Come on!! You can look at every property & tell there's nobody consulting!! SMH. It's all about doing less & charging more!! Flips are shady. It's far from HGTV!!

[@investfourmore]

@@TheRubinre HGTV is not the real world. Have you ever seen a new house and how it is built? The materials they use etc?

[@elmyra.jackson]

@@TheRubinre Thanks for YOUR opinion!

[@andrewprice1774]

Who the the hell pays over 200,00$ for a house with not even half an acre in the middle of a neighborhood....in South Georgia that would buy a huge brick home and a 90 acres of land ......the madness of city folk😌

[@investfourmore]

The median value here is 310k

[@label1877]

Plus I would prefer to live in South Georgia instead of with the California potheads in Colorado.

[@jonpeterson5534]

Bank of America will not give loans to buyers to buy flips (homes owned less than 1 year)

[@investfourmore]

I am not sure on them, but many other lenders will. Some have rules about 90 days though

[@margaretmoore3595]

Postal Code 80620 demographics show that more working class rent than own, and the median income is around $43,000 for 5 person families. It is also not as nice of an area as other locations in Colorado. This zone is more of a renter's market than a buyer's market as this area is lacking in available homes for sale. This explains in all certainty the reason for low appraisals due to the smaller pool of qualified buyers. It is definitely an area where you want to use Home Depot Builder's Grade in flips for sure. And it surely explains why the limited number of actual buyers opt for non-conventional loans as they definitely are not your typical qualified buyer, more than likely due to low credit scores. As a flipper in this postal zone you are pretty much locked into a fixed appraisal of ANY property. 80620 is definitely not a high profit flip area and you are most guaranteed to suffer carry costs until you can unload your flip. Your only other alternative would be to become a landlord for minimal positive cash flow, unless of course you simply enjoy rehabbing as a hobby.

[@kprairiesun]

Basement utility room looked awful! Put up drywall or something!