Before and After House Flip Bought From Auction.com Sight Unseen
Вставка
- Опубліковано 2 тра 2019
- I was not expecting to get this house! I had bid up to $267,000 on the auction.com site 4 hours before the auction was scheduled to end. I could not see in the house since it was occupied and that was the most I was going to pay. It was probably too much actually, but I thought there was no way I get the house since I had never bought an auction.com house before. The 4 hours came and went and left me as the high bidder!
The house is a super cool four level with an addition. It is really similar to the first house I ever bought when I was 22. In the video I show when I won the bid, doing cash for keys, the house before, during, and after the rehab, and all the numbers including the ones they don't show you on tv.
We did decent on the property but it was a quick sale since an agent from my office bought it before we had it listed.
You can check out the Investfourmore instagram page here:
/ investfourmore
Here is our Facebook page: / investfourmore
Here is the video on the financing costs for different loan types: • What are the Best Loan...
I think this is probably my favorite house that I've ever seen you do. The kitchen and the wall of windows are gorgeous! Very nice flip 😍
Thanks!
it was left in very clean condition they really cared about living in this place it is a beautiful place. i love it
I've been wondering why the house was on auction.com? If they were the owners and took such good care of it, what was the advantage to them to list it there and not a more traditional route??
LOVE how you do neutral colors and basic finishes. Many house flipping shows get too crazy with their patterns and colors, which makes them more difficult to decorate. I also love how you do warm colors. I'm so tired of seeing gray everywhere. Good job on this house.
I think you may want to check your total cost calculation. It seems the total cost would be 64,859.25 instead of 50,609.25. You probably did not add the other cost of 14,250 in your calculation.
My house has those surround tub/showers. I snubbed my nose up at first because I thought it looked cheap. But, those things are so easy to clean and maintain that I changed my mind quick! Not having to worry about soap scum and mildewed tile is wonderful!!
Good point!
Im new to your journeys and want to say TY for the lil trill Ithat comes walking through a vision in progtess.When was the house built? I refurbed homes for twelve yrs. I loved the old homes. I found character in them that just doesn't seem to exist now. Nice find. Look forward to peeking again soon.
It would have been nice if you had put some of those base cabinets in the laundry room that you removed from the basement.
The entry steps are gorgeous. Awesome house.
Thanks!
I can see why you took a chance and bought it. Just from the outside, great curb appeal.
Oh wow I already love the before. What a nice house
You did not make as much as you wanted but you sold to one of your own people so a good thing and a good deed, so nice sale!
Good deed?? Its not like he would have made more profit if he would have sold on a regular listing
my neighbor is a property manager and they recommend to their customers to pull out the tile, and its so difficult to keep clean for a lot of people and do this or the fake marble I just did a complete bathroom remodel, totally revamped it with a different arrangement and did a tub and surround like the one you did
I would have made a full bathroom in the basement, next to the water heater. Because it is well below the bathrooms above, then the hydraulics would be very easy.
Excelent project!!! Love it 🌷
Well he wanted to maximize his profits without the extra costs. It would look nice but I don’t blame him.
Looks like a Bill Wahl home in Thornton, Colorado built in the seventies. Kerry ended up with a nice house that should appreciate nicely. Fun and informative video, thanks!
This house is beautiful. I love that a lot of your flips have some awesome quirky details that you end up keeping. Would love to have this a job one day
I’m 25 and really interested in flipping homes and doing what you do, this video is very helpful and I appreciate your honesty and just the whole point of view as well as the before and after part, you’re great for these videos please keep them coming, you and your team are very helpful, thank you and I’m subscribing right now !! 💯🔥🔥
thank you
Great buy! Congratulations to Keri on her new home. I would like that home!
I love this house too. I see why she liked it so much!
I just found this channel today. Great great channel so far. Please keep these fix and flip videos coming. It helps newbies like me
Thanks! Glad you like it
Glad it worked out for you! I really like that house.
Wow, I love this house. Really well done.
Wow!! It looks wonderful! Great job.
You did a good job on this one love it 🏡Thank you for the video I do appreciate it.👍😊
what a wonderful house... you did a great job by leaving the integrity of the building
Yes, thank you
The owners left the house in good condition.
Yeah pretty nicely kept
Nice change...
I realize it is quite off topic but does anyone know of a good website to stream new series online ?
Great how you took us through the whole process in one video!
Great content!👍🏻💙💚💜
4 level… I love “quads”! So much space & flows easily. Don’t know why more builders don’t offer it!
agreed!
Wow that backyard was amazing
Fantastic video - great to see start to finish. Appreciate the time spent putting all together and all the explanation. :)
thanks!
Hey Mark! Just found you & subscribed. Very interesting videos! I have no interest in flipping houses or going into real estate investing, but love to watch your videos!
As a homeowner, I much prefer tub & shower surrounds over tile. Tile can be more attractive, of course, but the maintenance is a pain. When we bought our current house, the one piece tub/shower surrounds were actually a positive buying point for us. As were the custom oak kitchen cabinets & the low maintenance steel siding. Just offering a buyer’s thoughts!
Thanks for suppling these videos!
Thank you!
The new counters in the kitchen made it look a lot better.
That pergola is a really nice touch!
Mark, thank you for your videos. We just sold out first flip and did really well with it. We just purchased our second house. I trying to learn as much as I can because I realize we won't always be so lucky. My husband is studying for his real estate license now to save on commission. We have been hesitant to bid on Auction.com and it was insightful to learn of the cash for keys form. I'm sure we'll learn more from you as we watch more videos. Thanks again!
you are welcome!
U did an awesome job. The basement would have been a great master bedroom if that small room was made into a bathroom.
I love the pullout shelves
That is so crazy about the oven!
Nice thing for your employee and loving the look of the house.
Man, he is still making $37K on this...
The chief positive thing about shower surround is that it reduces water leakage and rot. It's not the prettiest installation, but it saves a bundle of money over the long haul. Very nice house and yard, although I wouldn't buy it because of all the different floor levels on the bottom floor.
You always sound like you just walked up 5 flights of stairs lol. Great video mate!
It is not easy talking for 10 minute straight and in some of these houses I get allergic pretty quick. lol
Watching this again..
This is still one of my favorites too.
A really nice home.
Although I think id still get the cabinets painted when I moved in..😁👍💜
Thanks!
The only complaint I have is the countertop going over the toilet tank, it makes toilet repair a nightmare but still I love the modernized vintage vibe of this house.
Also, having no lights in any room. That would be annoying.
Good deal. Love this house
Beautiful home!
So glad I came across your channel 👍great content and no fluff 😎#keepinitreal
Thanks!
Thank you for this video!
Such a great big backyard
Omg this house is so amazing, good job 👏🏻
Love the new kitchen
thanks!
Wow. That house is amazing. In the part of the UK where I live, it would be worth a million pounds!
Same in Australia.
Love this flip. Looks like the old owners left the house in pretty good shape. The real-estate is changing especially right now unfortunately. However I am sure that it will ski-rocket in the future!! Great profit for a great co worker!!
Your channel is so cool!
Thanks!
Love the house!!
I love it !!!
That house looks pretty good sheesh
That’s so weird that there are no lights in the rooms! I have to have a ceiling fan in every room!
I'd love that house.
Nice job ...
Dude, We bought a house in Cali with that no lights on the ceilings. I put in fans and lights. What an odd design to have only lamps and no ceiling mounts right!
I love basements!
I really like this house it’s pretty big for the price.
Nice house
I was surprised by the cost of the deck work.
Wow seems like very little needs to be done. Nice house
Nice!
Thank you!
You are my spirit animal
And you sold it for 355 four months later. Nice... Saw the after pics... Wow
I would had sand those cabinet down and paint them white.
If the new owners want to they can
Hi Mark, do you have tips on what I can do to get the interest rate on my loans as low as possible?
talk to a lot of banks
You should add a bathroom in the basement for Carry. That would be cool.
I would love double ovens!
I like it
I would have left the cabinets in the room downstairs. perfect for crafting/sewing etc.
looks pretty good to meas is
Love what you did to the house! Looks great. Is there a reason you left the "Other costs" figure out of "total costs?" Looks to me like total costs should be $64,859.25, which would put profit at $23,140.75. Either way, still a cool house and a great flip.
Exactly what jumped out at me....only $23K profit. But for only four months, not bad.
Mehbeh he needs to hire an accountant.
@@tomm8025 23K for four months and a house priced that high is not good at all.
Not trying to throw shade at all! money is always good, but i flip a lot of houses and you can manke 23k on little 60k dollar homes.
Mark makes a lot more on some of his others!
@@derekblades - I was being kind. I am sure they normally make more. I wouldn't risk that much myself for such little profit (although a profit is always good). But the math in the video was wrong and the profit vs risk and effort low. But everyone values things differently, so who am I to rain on their parade?
@@derekblades what state and city are you flipping in?
11:09 The black(ish) wall would be a good place to put a TV / entertainment center.
23:33 - 23:51 Where I come from, NO house has a light in the living room, at least when it comes to the older homes, so we have to put a lamp in, if we want light in that room. Which I never understood, cause, don't we need light in EVERY room? I don't know why they don't / didn't build houses with lights in the living room in my area. I also hate when there's an electrical outlet that needs to have a switch to operate. When I plug something in, I just expect the electronic to turn on, without having to flip a switch after plugging it in.
ceiling lights in living rooms is a big no no, you don't need that kind of light in there, just keep 2 or 3 table lamps , its all you need, but bedrooms yes, they need a ceiling light
This is the biggest issue I have with auction.com. 99% of the time you can't see the inside. I do not rehab enough houses to eat the costs if it is in real bad shape. At least if they had pictures it would help.
You didn’t really show the finished kitchen. That’s my favorite part!
My style of house
This house is amazing but with a better update it would’ve been truly stunning.
Hey Mark, Where can I pick up a 'Cash for Keys' form.. Also, As a wholesaler in Baltimore I appreciate that you're truthful with your numbers and costs.
Not easy to find one.
Not in the investment side but I’ve bought and sold a few houses. Get a good relationship with a local RE attorney and pay them reasonable for the forms. It can save your butt.
Ooo, theres a basement...
Wait so you must have proof of funds right and must give a down payment or how does that process work? is it online or to the city or owner?
Why did you not add the room lights during the rehab?
I would be annoyed also if the rooms don' have lights.
Learning that flipping doesn't mean fixing everything to a golden standard like on HGTV - flip to make a profit and not make everything all brand new if not needed
Do you sale the old appliances?
those kitchen cabinets could be painted and they would look modern and fresh
w here do you get like your shower surrounds or tub surrounds? Really liked this house.
Our plumber gets them
Usually auction.com requires cash for the transaction, how did you make it with finance?
Hold up. Oak cabinets are your favorite, right?? 😂
Of course
There's half hots ..half of the wall plug is controlled by wall switch..
I didn't know that we can loan to the bank for auction.com if haven't enough amount. That's why i hesitated to do auction.
on some
Surprised the condition of house, is in good. Shape ! Kind of sad they lost it to foreclosure! Looks like they tried to renovate on their own , not sure about the quality ? But they tried ! Did you say how much square foot ?
Cannot wait to see finished result ! Seems it’s like a maze? Can see it’s in good condition except for addition you always do quality work !
You never say where your flips are ? Would give us an idea for judging the price ....know you sell your flips at reasonable price and work is excellent !
See it’s in Colorado, I’m sure you do a cost comparison in the neighborhood ? You sold it fast, good work !
Did you say how long it took you from start to finish , I was under the impression it was owned by bank? Their properties are usually low priced but you wait a while longer to “win “ it ......
Northern COlorado
Are you Pittsburgh based? I saw the steelers thing on the front door and was just wondering.
Colorado. the old owners liked the Steelers
Oddly a few homes ive rented didn't have ceiling lights in bedrooms
it is annoying
Mark I noticed in the description you said you got your first house at 22. Can I ask how? I'm 23 and couldn't get approved on a mortgage for a 150k house with 20% down even though it was in an area that would rent for 1600-1700/month. They wouldn't approve me simply because of my employment history (Senior in college) I had the downpayment and 24 months worth of mortgage payments for security but still couldn't get approved. Do I have any other options besides waiting till I can get a fulltime job? I feel like I'm not taking advantage of a lot of available resources.
I got a loan back in 2002 when it was much easier. I had also been in real estate for two years. I may have been 23 actually now that I think about it
canes You typically need 2 years of solid employment history to get approved for a mortgage. Or some other solid source of income that can be verified on your tax returns.
Try local banks
In this video you mention that title insurance didn’t give you full protection in all cases , could you further elaborate on this ?
Sometimes if something is not recorded the title company will not take any responsibility
Semantics. No one "wins" an auction. You buy something for a price higher than anyone else is willing to pay.
Wow! It seems you had a lot of luck, or maybe a lot of know-how, on this one. It could have easily gone south. Scary to newbees. But $37k sounds like a good return for four months effort.
It wasn’t 37k. His numbers were wrong. He only made 23k
I would have put a bathroom in the basement
Maybe 2 PAC the kitchen cabinets white or something and put new hardware on them..
I'm not a fan of hot tubs either. There is no substitute for a swimming pool...😀 it'd s shame you couldn't have sold it for over the $400k mark though. I thought you were going to get a much higher profit then what you actually did. But I guess in the long run you saved by selling it soo fast.
Shower surround is cheap but looks very cheap too.