How to Get Started Flipping Houses (Auction Property Tour)

[@jalyv87]

Can you make a before and after video please 🙏🏼 thank you in advance

[@Crown149]

Awesome video. It’s hard to find real content of investors doing their thing in real time

[@judyhyslop9163]

I think 80k I’m learning so much from you. I’m excited to flip my first house. Thank you!

[@misagoins-yj1xn]

I would fix it up and build residual income by renting it out. If I was wholesaling I wouldn't put all the work to fix it up just make the deal.

[@jamelgibbs]

Decided not to wholesale it. Now it’s either fix and flip or fix and rent. I’ll keep y’all posted.

[@Crown149]

@@jamelgibbsplease document the whole thing for us!

[@matthewburkholder1076]

​@jamelgibbs what did ya'll end up doing on this property?

[@DavidRodriguez-tx1fo]

This video didn't suck. Thanks Gibbs. Continued success sir🤙🏽

[@jamelgibbs]

↓Subscribe for more real estate investing tips↓ reieducationacademy.com/KZbin-Subscribe Also, share and leave a comment below.

[@healthpro2998]

Recently, I saw one of your videos on how to purchase property using a business credit card , and I wanted to get more information on how I can use my business credit card then turn it into cast to purchase a property. What is your email address?

[@wescasey3105]

75-80 on rehab for existing living areas. Would basement area be feasible as an apartment for additional income.

[@deegodin5350]

I would buy and turn into a Rental/ possible section 8

[@Crown149]

With todays pricing, it’s about $70 per square foot so I’m thinking about $85k possibly more

[@lawrenceneely7859]

I’m going to most definitely check out your website

[@Crown149]

The siding looks good. I would paint it

[@oroxlaw1493]

Very nice property with a lot of potential, thanks for sharing. o would say to fix the property would be around 75 to 80k imo.

[@teddock6909]

Yes, Jamel I would wholesale it

[@JannyellHines]

I love that house!! I can’t wait to buy my first flip!!

[@lucasbarrettofontes]

I'll love to repair the prop and sale, but in this case maybe wholesale could be a great deal! Depends on my moment of life as well. If the markup was too higher could be considered as well.

[@lazaruswoods6928]

Losing a bedroom negotiation could have went more like 20k discount. But I don't know the market there as well as you Sir. Great work!!

[@dwayneduncan5176]

Preciate the content OG. Originally from NYC myself and now in the NC area. I need to tap in! I'd wholesale if the buyer is talking nice when he shows up to view the property. But you have a solid game plan to flip or rent. I'm guessing 65k on the rehab??? I'm tuned in!

[@matthewburkholder1076]

I would definitely take the 20 on the wholesale instead of going half a year waiting for just double the money, but I'm also brand new at this

[@Crown149]

Wow I have a house verrry similar with similar pros and cons, good rental, good resale, good wholesale price. But mine needs all new windows and foundation work. Not to mention all new subfloors. Looking at 100k in repairs alone

[@sharonallison7333]

I would recommend making it a rental property for sure

[@RobertHamilton-p5n]

Thanks for sharing! I'm thinking 80K-85K rehab

[@bbqworld2103]

Great content as always!

[@jamelgibbs]

Glad you enjoyed it

[@tishacroom7056]

How much was the repairs??

[@AberrantArt]

How much do you budget for if you're replacing all the plumbing?

[@GeraThaTruth1]

I’m new to this, but If you’re considering wholesaling the property you just bought. Why does the investor want to buy the property so quick? Is the property a hidden gem? I just figure if the investor wants to buy it from you quick the investor is obviously confident he’ll double or get more out of what they’re putting into it to repair it. You said your contractor is at your other property so it’s up to you. 🙏🏽

[@JEP-z4i]

I would wholesale it because paneling, you don't know what damages are hidden behind it. In the video, the paneling looks a little warped.

[@beatrixbrennan1545]

He said he was tearing all the paneling and putting new sheet rock.

[@lawrenceneely7859]

I’ll take the 20,000 and move on to the next deal

[@Holhaus]

Nice prop... I'm thinking fix and rent/ lease option. Rehab about $150-175K

[@stretchyououtworkout3462]

Please have and update when done

[@jamelgibbs]

That’s the plan.

[@judyhyslop9163]

I would want to fix and flip.

[@AberrantArt]

Do you need a permit and engineer to be able to add a new window or two on an exterior wall?

[@loganwilkie8405]

I’m curious, if it was an auction property, did you have to bid on it? If so how would you work it down to 75k? I’d love to hear how that process looked. Thank you sir!

[@JEP-z4i]

I didn't hear the comps before I answered. With the possibility to make $100k, put in the exra money!

[@Mindset-d2d]

it need new HVAC , electric works , plumbing and roof it cost around 65k to finish up the work

[@jamelgibbs]

We were in the mid 40s. We got all the major stuff done for under 20. It really all comes down to local labor costs. Some markets are higher/lower than others. Nothings black and white, but that 65k was a great guess.

[@beatrixbrennan1545]

​@@jamelgibbsthat's amazing. I live in San Diego and all those repairs would've been an easy 100k, PLUS the purchase price in the same condition would've been about 650k. No joke.

[@marymelvin777]

I will wholesale to spend less time. For extra passive income, a month possibly keep it.

[@Squadkilla]

I would extend the length of that deck.

[@Crown149]

Are you hiring a structural engineer? Or will your GC figure everything out? And are you having floor plans drawn up or doing it yourself? What’s the budget? This is my first large rehab so I would love to know what other seasoned investors do

[@danneytee]

I would take the guarantee money any day and move on to the next potential. It safer in long-run and this game is for marathoners

[@michellebowling1979]

I’ve watched videos on wholesaling for a while. But it scares me more than thinking of a flip for some reason. I feel like for wholesales you need an Allie that wants to work with you. I don’t have any of that and no experience with buying homes at all. So, I feel like flipping is more likely to get me a profit.

[@beatrixbrennan1545]

Honestly, I think wholesaling is the better bet when you're first starting out. Way less risk and easier. Flipping takes knowing the right contractor, patience, and being very careful not to go over your budget so that you can still make profit. JMHO Good luck to you, whichever way you go.

[@NevaWilson-s2h]

I would rehab and resell.

[@MoeToOFFeR]

Depending on how honest the contractor is i would guess 60k-ish with labor and material

[@manuelrouse7896]

@Jamel Gibbs thanks bro

[@jamelgibbs]

🙏🏾

[@ptguy02]

I don’t think I’d put in the same amount of $ as the purchase price, tbh, but deoends on the goals.

[@EliteClinicalResearch]

80-85k with basically replacing all mechanicals and the roof.

[@ronron6230]

I have the hardest time trying to figure out which wall is load bearing and not. 😢

[@rettab7390]

I would say to rehab would cost about $125k

[@violetgregory5421]

Rehab budget approximately 90k

[@judyhyslop9163]

I would fix and flip

[@carlandcharlenak8476]

Rehab about $58k everything.

[@valoriejenkins6553]

45k

[@beatrixbrennan1545]

He replied a month ago and said it was completed in the mid 40's. God job

[@carlandcharlenak8476]

I would wholesale it.

[@mbrenterprisesbdif]

Got a connect IF u need it. FC

[@hesellsresale211]

😂 maybe it’s a rock 😂

[@jamelgibbs]

LOLOL. I think so.

[@AnnemarieSmith-v5n]

Wait for the 50k in four months

[@TMDurianfarmer]

20 k

[@judyhyslop9163]

I would like to rehab

[@jgwilliams67]

Wholesale it. Two bedrooms are usually hard to sell.

[@jasonjames6331]

I would just take the $20,000. Too many things (or people) could easily derail a 5 month long plan.

[@JulioZavala83]

I would say 80k to fix it good

[@jeromedumas6323]

Take the cash buyer $20k. Go on to next😊

[@karendupee714]

Whole sale it if you need the money now. 😊

[@karendupee714]

Probably around 70-80k to remodel

[@AnnemarieSmith-v5n]

About 70k to fix up

[@tri3pleagent]

I'm gonna say $100k to get it up to comps.

[@valoriejenkins6553]

Wholesale it

[@sirnelson7207]

Let me do you Hvac brother we give very fair prices

[@jamessmit9754]

123

[@jalyv87]

$125 ish

[@jalyv87]

And sell for $250

[@mbrenterprisesbdif]

FYI FREE TIP: "SELL AND OFFER LAWN SIGNS and People will support you while sharing your Business with ALL WHO PASS BY AT ANYTIME ON ANY DAY OR NIGHT! Holla Forever Caesar

[@KM_TwinCities]

Wholesale it