We Bought a $47,000 House in Florida (Before + After Renovation Pics)
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- Опубліковано 29 сер 2024
- We renovated a $47,000 house in a short sale real estate deal back in 2009, and later flipped it for $85,000.
If you're thinking about buying a cheap house, I'm sharing our experience of the process and offering some advice and reality about all that's involved.
Before and After photos of the renovation shown throughout this video, so you can see the transformation.
Our goal was to find the cheapest property we could in a relatively safe neighborhood. This turned out to be a 2 bedroom, 1 bathroom short sale for $47,900 in Florida. The 794 square foot bungalow-style house was built in the 1950s, and was only one block away from Tampa Bay.
My husband, James, did 95% of the work himself rather than hiring it out. There is a LOT of responsibility and costs that come with home ownership, so please go into it with your eyes wide open.
UPDATE: Our $47,000 House Sold for WHAT??? Crazy Florida Real Estate Market
• Our $47,000 House Sold...
Read more details about our home renovation and buying/selling process: goo.gl/4RU5GE
Should You Flip Homes? House Flipping Tips + Choosing Real Estate Agents
• Should You Flip Homes?...
We owe many thanks 🙏 to our fantastic real estate agent Melanie Atkinson! If you’re looking for a realtor in the Tampa Bay area- we can’t recommend her enough! 🏡
UPDATE: Melanie has started her own UA-cam channel - Melanie Loves Tampa Bay with very helpful videos about home buying / selling / ownership!
/ @melanielovestampabay
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ABOUT JEN:
Not an expert on life, but willing to talk about it - recovering TV news veteran, Korean adoptee, married without kids
Quit my job at CNN + sold my house in October 2017 to focus on Sewing Report and Jen Talks Forever. Now I make videos from home in my Hello Kitty PJs.
Likes: Sarcastic humor, wine, steak, living below my means, saving $$$, bad TV shows, 80s films, sewing, crafts, DIY, cats
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UPDATE: Our $47,000 House Sold for WHAT??? Crazy Florida Real Estate Market
ua-cam.com/video/F0ltgVGgxKw/v-deo.html
Read more details about our home renovation and buying/selling process: goo.gl/4RU5GE
We owe many thanks 🙏 to our fantastic real estate agent Melanie Atkinson! If you’re looking for a realtor in the Tampa Bay area- we can’t recommend her enough! 🏡
www.smithandassociates.com/Real-Estate-Agent/melanie-atkinson/74193
Jen Talks Forever key I
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Jen Talks Forever do you do anything near chicago?
I too got a home in a crapy state, however we are living in but it still needs much love. the home is about 45yrs and i was and still is wondering how to put some much needed insulation behind the walls. I m thinking spray foam is a good one for old homes???
Would you renovate someone else's house? I am looking to buy a cheap house and looking for someone to do what you have done
I. Bought a. Foreclosure in. Florida. Too but. If. You. Put. Too. Much money you. Might. Overdo in. A. Neighborhood. They always. Say don't have the. Best house. With lots of. Upgrades or you never get. Your money back
"living below our means" is key to debt free.
💗💗💗
And an early retirement.
We paid $42,415 for our house! It was a forclosure and needed work. The people took the furnace with them. So there were bursted pipes and water damage. We worked on our house every day for a month, got a new furnace put in and the leaks fixed and then moved in. It still needs some work but look a lot nicer than when we bought it. This definitely is not my dream house but we didn’t need a loan to buy it. So we have been rent/mortgage free since October 2010! 🙂
I’m curious how much the kitchen renovation cost you? I want to completely gut our kitchen because everything is old and I feel that’s the room that can really increase the value of our house when we go to sell it.
That's INCREDIBLE!!!! Hope this inspires more people to buy LESS house than they can technically afford and try and do what you're doing - mortgage free! Woo hoo!!!
For sure! Depending on how big the kitchen is - you could probably do it for under $10,000. We've used Cabinets to Go in the past and the prices are terrific for real solid wood cabinets (no particle board!). We paid about $2,000 in 2010-2011 for the cabinets, although I think prices there have raised slightly. Home Depot charged us around $2,000 for beautiful white quartz countertops. We didn't have a large kitchen, so there wasn't a ton of square footage for the counters. If you went for very affordable flooring (ceramic tile on sale, laminate) - it would be doable.
Jen Talks Forever thank You! I’m hoping to get our kitchen remodeled soon!
Can't wait to see it!!!
I paid $46,5000 for my 1200 sq ft frame house in 1993 after a divorce. I raised my daughter there and money was tight. The house had good “bones” and I slowly made improvements as I could. I just made my final mortgage payment after 26 years. I’m 70 and retired. I’m comfortable here. I guess I could sell it and buy a more expensive place but won’t. Going to travel instead.
God bless you !!
I bought my house for 65000 when I was 21 now I’m 28. I had to put 15000 to make it my liking but I will be completely debt free home loan, credit cards and all in 2 years or less. I have a fiancé who I’m trying to convince to live in the house with me (because he has fancy taste). My house is beautiful but small and missing a garage. But I hope that I can convince him to at least stay in the house with me for another 4-5 years and save to buy a dream home(possibly discounted) with cash. Hopefully he will see the light!
Buying a home with cash would really put you guys in a great situation! If he's too fancy, that's on him!
Wow smart
Jazzy Blaque I hope he listens to you. You sound very intelligent.
Jazzy Blaque if he doesn’t like your lifestyle, then he ain’t your guy, he will only take away for next home and everything you have and keep it all for himself, because he didn’t work his ass to build the house you originally bought with your sweat and tears
Finance is a major source of contention for married people. If you can't get your partner on board do not marry this person.
Bought a HUD repo. Spent $59,500.00 on 1875sq ft. 4 bedrooms 2 baths. In 1983 & Sold for $250,000.00. DIY the home. Worked out for us.
WOW!!! Love and am inspired by all the fellow stories about cheap homes!!!!!
Did you do the work yourself or hire someone? I’m a single mom of two that wants to buy a fixer upper house but I’m not sure who I would hire to do the work? I know Lowe’s does.
Our house cost 18k it needs work, but we are happy here. Can't beat a $300 house payment.
WOW!!! Good for you!!! You really can't beat that...
animefiend16 where do you live?? houses in my area is average 1.5 million...
I live in nc n my house payment is 420
Same here. Ours was $15,000 but paid off in 6 years. Small 700sq foot house but don't have a bunch of debt and can do what we want with it.
Lmaoooo I know that’s right!!!
We did this. 75k bought and lived in for 7yrs. Did some updates like floors ceiling plumbing and paint. Currently renting it out for 750 per month. It's a nice little income property and was our first home for a little family of 4. 2bed 1 bath 886 Sq ft. In central Okc. It was the best decision. We could've made. We had to definitely sacrifice luxary and had to be super wise with our money ut investing our money into the house to pay off and now have 100% profit was for the best! I always advise people to live below their means in the beginning just to make sure that life doesn't completely screw you over. Because life always like to get in the way.
We are hoping to continue to buy and flip property for income purposes but we did need up building and buying our dream home. It's a "for now" home til the kids leave.
I could not believe the after. Before it looked like the inside of a trailer, after looks like an upscale condo. I want to build my house from the ground up and now I'm inspired 😃
Glad you enjoyed it! My husband is really the design guy so he gets all the credit.
We just finished paying off our 40,00 dollar house im 22 years old.
ROCK ON!!!!!! How did you do it?
Nice man
I’m so glad I found this I’m 21 & my boyfriend & I are looking into buying a home bc we spent $10,000 in one year on our first apartment which was ridiculous to us & makes more sense for us to buy a house where looking ing the $50,000 - $70,000 range this was very helpful !! Thank you
Glad you found your way here - that's a good price range for a first home!
good luck also hope your in an area with cheap houses.
Hope you have a good income and a down payment also a husband not a boyfriend people need their shit togeather before a house
Natasha Grace hope you find something nice!!! Wishing you luck!!!!!
cheapest houses in central texas are 200k. plenty cheap houses in the tampa area for around 100k though.
Yes!!! This is the way l think... Always live beneath my means. Always factor in the worst case scenario. Very wise! Love this!!!
You have such a good husband. My sits at a computer all day long and then sits out in the porch to smoke a cigar.
Good for you and thank you for your tips. I am looking for a house like that for myself in northern flotida
Hehe - your husband sounds like a good guy too! At least he's got a vice!
I love what you did to the kitchen! I love living below our means. My husband and I bought our first home in 2012, it was 26k and we paid cash for it. We put almost 10k into for new flooring, updated the bathroom and a new roof, then moved in. We just sold it last month for 115k, it was getting a little cramped for a growing family😂. But since we decided to buy something less than what we could really afford, we were able to save money while still being able to pay for his law school and completely student loan free as well as debt free altogether. We just bought our second home and put the entire 115k down on it. And since we also saved up while living in a small house, we just bought new furniture for our 3900 sq foot house , which is huge to us since our small house was only 970sq feet.
Thank you Sarah!!! That's awesome to hear what you did to your house!!! Did your family/friends think you were nuts? Law school DEBT FREE??? And a lot of people say that's not possible. Congratulations on the new home! You have sacrificed for longer term gains and it clearly paid off. What a great story!
Jen Talks Forever I think most of our family and friends weren’t really surprised by it knowing who we are 😆. I was able to finish nursing school and get my BSN on the hope scholarship by 21, so I had no school debt. We both had been working since 16 and were lucky enough to save up money by living with our parents, while in school. Now the first year we bought the house it was a struggle since I was the only one working. After that though it was smooth sailing and we had our son. Decided to stay, save up money and have my husband go to law school full time. It is possible, just have to make it happen and be wise....not to mention cheap at times 😂
my current house cost me $63K I believe you can find a great home make it your own for not too much money
+JULIAN CREATES Rock on!!! There is so much freedom that comes with a less expensive home 🏡!
JULIAN CREATES My wife and I are looking to do the same thing, between 50-70k on a home. Thank you for the video, keeps me inspired to push forward with it. Even though we can afford more, it just makes sense!
Not in California !
Jupiter Stars OMG in California 3bedroom $700,000 and up.But the weather in my area is perfect
I wish this was the case of Australia. Houses here costs $300,000 up. Where I live in Sydney it’s $500,000 and up. Sadly, the cheaper it is the more country, outback and rural the area is.
Good life lesson. Buy what you can afford, not what you think you want. Some young couples want the type of home they left when they get married, forgetting that it took their parents 20 -25 years to get that house.
Thank you for stopping over here! While that house may not have been "nice" in conventional terms, it sure did put us on more solid financial footing!
What young couples? We’re all out here paying $1700a month for shitty apartments, when our parents were able to buy starter homes and had pensions for jobs they got straight out of high school. Most of us can’t even save up while we work 60 hours a week. Can people stop criticizing a generation they know nothing about? Young people are living in a world that is much more financially inhibiting than their parents. Wages have not kept pace with the cost of living, and were all kinda screwed, so most of us will never own even a starter home.
My parents bought their land and house for 60k total. In their mid-20's. I could even BEGIN to touch what they have and my husband and I are in our early 30's. We're the first generation to make less than their parents but yet we have more education. Our cost of living is higher than our parents and we make less. This generation has to bust their ASS just to get by. Apples and oranges my friend when it comes to comparing this generation and our parents.
So true. This is the first generation that home ownership is for a lucky few. Most will rent all there lives. What went wrong ???????????
David Hutchison government/taxes/change in culture. But that aside, the original comment said SOME young people want what it took their parents 20-25 years to attain. For some reason, some young people took that as a slam at the entire young generation. The fact (and I mean statistical) fact agrees with the original comment. It was “discovered” during the market meltdown in 2008 that a lot of people were getting home loans they had no ability whatsoever of paying back, which of course contributed to the housing crisis......tons of defaults. And guess who gets stuck with that ginormous bill? Joe plumber and Suzy school teacher. Anyway, I could go on all day about what went wrong. I’m of the belief it’s all by design. But all hope is not lost. I FIRMLY believe if you really want something, you’ll find a way to get it. 😊
dang, as somebody living in Cali that house would have easily gone for 400-500k, and normal/nice houses are 700k-1.5mil
If you ever consider relocating, there is much more affordable housing in other states.
Jen Talks Forever I am. But its hard to find a job without living in the state/town already.
Bought my house 10 yrs ago for $120k just finally mortgage free..
That's awesome!
You paid a 120,000 mortgage off in ten years..u did a helluva job 👍🏽
As long as the old house is not haunted then im okay with purchasing it at a low budget and putting in the work to renovate etc
You can un-haunt a house as part of the renovation process.
One thing I would also look into would be the neighborhood, is it a safe area.
Another thing is the owner or bank trying to get rid of the property due to expensive repairs or damage.
Yep! 👍
I just bought a $12,000 double wide and it's actually in great condition but I'm ready to start renovating the entire thing! I'm so excited!
Congratulations - that's a great price for a roof over your head! Good luck with the reno!
you didn't do good you did outstanding - smart all the way around - can you say Dave Ramsey LOL
Thank you! I am a huge Dave Ramsey fan!
Whoo-Dave rocks!
Seriously, both you and your husband are couple of geniuses. So glad you share your tips on UA-cam, thank you, and please keep up the excellent work :)
Thank you so much for all your sweet comments!!!
I found your channel because this vid was recommended by YT. Good stuff! Thank you for sharing.
🙏
My dad bought a Brick house for $20,000 and i’m not sure why it was sold for that much. $47,000 for a house is nothing but my dad loves buying houses, renovating and reselling for a lot more. He’s currently asking for $500,000 for one of his houses. The house in this video looks nice.
Thank you! Your dad sounds super cool!
My bf and I have been in the look out for a house and omggg it’s been a so hard ! We have bad luck with 3 houses and one of them that we reallllllllly wanted I cried when we didn’t get it😓 I just hope we can get a house before the year ends. Thank you for this!
You will find the house for you!!! Don't give up - wishing you the best!
Jen Talks Forever I hope so too thank you so much !
This is insane. Our current home is about the same size and cost $800,000... that's not a typo 😅 I can't believe you can buy homes this cheap in the U.S. I live in New Zealand.
$800,000????? Holy moly! Come to Florida, my friend!
Jen Talks Forever the houses in my area is at the least 1.5 million 😭😭 the lowest I've seen lately is 1.8 mil
Yup! I'm in NZ too and we won't be able to afford a home until we are 50 unless the market crashes. The average house price in my city is about $500,000 ☹
It varies greatly state by state in the US. Where I live currently, a foreclosed house that needs massive work is about $400,000. I guess I need to move to Florida too.
Dang lol. That's expensive af. My family bought our house for 79k and its a 2 story house with a basement, attic, and garage. Its 5 bedrooms, 3 baths, and there's 2 dining rooms.
Mine was 9500 foreclosure,, paid cash, needed work , work completed, mortgage free. I’m 54.🙂Great neighborhood.👍🏽
The end result is as good as you would see on HGTV! That kitchen and bathroom is top-notch! I wish you hadn't sold your house, you could have rented it out and been getting some passive income on it now, but that's OK. You and James did good!
We didn't want to be long distance landlords in this situation or have two mortgages. We will definitely keep buying and selling homes though. Eventually, we are interested in rentals - but not right now.
That makes sense!
At 3:01... all I could say was WOW! The kitchen and bathroom are OUTSTANDING! Exceptional interior designing
Very good explanation on everything. You were very lucky. I was fortunate to buy a home fore $46,000, no realtor, government owned; no major work to do , only cosmetic. Excited about it and can't wait to get started.
I thought it was interesting how you described everything as "tiny" in the house you bought. I thought the rooms were regular sized, but I'm not from the US, so my standard is probably a different one. For two or three people, that house looks very comfortable to live in. I think a lot of people have expectations that will just get them into debt or make then very unhappy as they keep comparing themselves to others. I thought the house looked great, even better if it was cheap. You did a great job doing it up, too! :)
Everything is relative, right? Thank you for stopping over here!
Your husband did fabulous work.
Thank you - he has an impeccable eye for detail! His other talent is spotting issues in homes.
So glad I tuned in to your video. I'm starting over after an ugly divorce and I do not want to pay more on an apartment than a home I can buy and then eventually rent it out for retirement money. The pros and cons were very helpful. Thank you so much for sharing your experience.
So sorry you had to go through all that! Hope you can get back on your feet and in a better place soon!
I can understand living on one income, but please make sure you buy in a good, safe area. To me price is secondary to safety!! You did a beautiful job.
We always take the neighborhood into consideration, this one was better than several others we looked at. Believe me, it can get a lot worse!
Good for you...I totally agree with you.. my son purchased his first home for $8000.00 yes.. 8,000.00.. I blogged about it.. brick cottage project.. no realtor fees.. for sale by owner..
WOW!!!!!!!!!!!!!!!!!!!!!!! How awesome for him!!! Does he still live there?
Jen Talks Forever he rents it out..
Jen Talks Forever did you visit to see it?
Our house? We did look at it before buying.
No, the house my son bought.. vivalavintageforyourhome.com/?s=brick+cottage&submit=Search
My husband and I’s house was $35,000...we’ve been living here for 6 years..House will be paid off this year! Could’ve been sooner if we had thought to make extra payments earlier..we have some of our renovations on my channel..it’s such a fun process!!
Congrats to you guys!!!!
Jen Talks Forever Thanks!!!
Delorian Eunice congrats, where are you guys finding homes so cheap?
Mocha Me Lol. I live in upstate New York, close to Buffalo!
Delorian Eunice God bless you guys Upstate NY is way too cold for me. I was born and raised in Brooklyn and hated every winter lol.
We r doing this right now. 42k house lived in it for 5 months. Haven't done much Reno yet but will be this summer.
We bought our house in 1976 for $14,500 and paid it off in the 1990s. I paid more for my last 3 vehicles than we paid for the house. It was built in 1922. Fixer upper doesn't cover it--it needed a lot of work. But slowly over the years we remodeled it to fit our needs. This ended up being a very good investment as we never had kids and didn't need to upsize. Now that we are retired--the 800 sq ft house is perfect as a retirement home especially since it is paid off.
Vickie - WOW WOW WOW!!! That's incredible what you have done. Hope you are enjoying your retirement in a paid for house!!!
Wow the renovations are amazing!!
Aww thanks!
0 student loans. Made 104k a year. Got a house for 52k. Put 15 into it. Paid it off after 3 years. I rent it out today for $1400. It's funded my other rentals since then and helped fund my house flipping on the side starting out.
Incredible!!!!! We're hoping to get into rentals - any advice?
Jen Talks Forever The way the market is right now I'd wait till it dips again to buy anything up. But I'd say get with a good agent and project manager if you plan to flip at all. Pay cash if you can. I lost 3 houses at the beginning doing the HELOC method. A good ROI is 15-20% not 8 - 11% like others say. And if you have multiple properties hire someone to manage them, the 10% cut will be worth it to save you the headaches. Make sure they're good managers. Vet them over and over again.
I bought my house for 42,750 that included most of the renovations. NICE houses in my area go for tops 200,000
Ohmygoodness! I'm basically stalking you on UA-cam now. Ha! I love the topics you talk about; they coincide with my own interests so much -- student loans, buying a house, renovating, etc. So... I'm looking forward to learning from you!
Hehe - I'm flattered!!! Thanks so much - I'm certainly no expert in... well, anything but enjoy sharing about topics I'm interested in!
I bought my house on the Mississippi Gulf Cost last June for $11,000, it was a piece of crap (literally it was filled with dog crap) and inhabitable. After putting in another $9000 it is finally finished. It had to be gutted to the studs, but it’s done and I have a 3 bedroom 2 bath house with no mortgage. It took a lot of diy projects and sweat equity, but I love it and 2 blocks from the beach, yea!!!
Wow!!! Love hearing other house stories!!! No mortgage is the way to go if you can.
28 years old and my fiance and I are pretty much doing the exact same thing. Currently living in a 3 bed, 1 bath that cost $35k. Needed cosmetic renos, but the bones were in great shape. 5 year mortgage, $5k down, $570 a month. We plan to sell for $70-80k when renos are complete, depending on how well the market picks up. We've lived in the house for a year now and have already made tremendous improvements
Woo hoo! Good game plan! Best of luck!
I'm currently renting a house. We dont plan on staying for forever but we have a deal with the landlord that any and all work we put in we get taken out of our rent. We arent putting too much work into it because we're just renting but its nice to make this place more ours.
That's a fantastic arrangement to have with your landlord! Benefits both of you - you get lower rent and they get some property improvements at a very low cost. Do you discuss your plans beforehand and get approval from the landlord? Just curious about how that's working.
Jen Talks Forever we dont have to discuss it too much. We usually just tell him what we are fixing or replacing or anything like that and he just gives us the go ahead. We tell him when we are done with it how much it cost and how long it took and he takes off our rent accordingly. He takes of $20 per hour of work and usually anywhere from 50-100% of whatever we spent depending on what was done.
Wonderful to hear that!!! More landlords should try and do that if the tenants can perform decent work.
Jen Talks Forever I agree!
That was a COME UP ! Looks like a brand new house.
Thank you!!!
I’m watching this again a year later. So inspirational
You can't even get en empty lot through foreclosure or tax auction for under 100k in my part of the world these days. Having the luxury of not being tied by non-financial binds to an expensive locale is the first step to getting a home for that price. I'm just glad my house has doubled in value since buying it 10 years ago (all in the land value) and when we move in the next few years (hopefully) we can have our pick of buying cash in hand all or most of the house cost.
That bathroom is so beautiful - I literally want to cry it looks so good. Great choice of color throughout.
Thank you! Husband chose most of the colors/design elements - he did a great job!
OMG!!! You all did great work. The before and after looks fanominal, it look a totally different property.
Thank you so much!
I'm glad I ran into your page Jen I just bought a house myself 4800 back in March and I'm glad there's other people doing the same good luck
$4,800??? Insane deal! Thank you!
I’m from Perth, Australia. Houses in Perth are cheaper than Sydney and Melbourne but I’m still looking at a minimum of $350,000 - $450,000 for a house in the suburbs (40 mins from the city). I’m single so single-income and started my career fairly late after spending nearly 9 years studying a bachelor, a master and a PhD degree. I was shocked to hear you talked about buying a house for $40,000+
Maybe I’ll look into foreclosure houses/unit. But my friend’s mum just bought a one bedroom apartment in the city centre for $350,000. 🤔
I’m from Perth also.
I started straight out of high school as a property investor, trying to sacrifice everything and delay living my life so that I could get to a point where rental income would let me retire.... I was wrong... my god I was so wrong.
I’ve carried millions in debt and lived like dirt and accomplished nothing.
Wish I could go back and do things differently.
If I had my time again, I’d probably buy the smallest cheapest house I could in Perth to live in and buy a retirement home in Japan, the US or the Med’ and probably be retired by now already.
I wish you so much luck starting out.
I hope the nightmare of Australian tax, real estate, corrupt banking practices and incompetent state politicians doesn’t come to ruin your chances of home ownership.
Scarlet Skunkjob Thanks for the info from your real life experience. I too would looks into the possibility of retiring outside of Australia. Did you get screwed over by the economy downfall? What’s your main contribution factor to being millions in debt? I would like to know so I can avoid them
This makes a lot of sense Jen. I've seen a lot of 'seeming' pressure in the UA-cam space to kind of live a life of vanity. Moving house to house, it's ridiculous. To each their own but you have some very realistic aspects to investment and expenditure in general.
Appreciate that Annette! Who decided how you and I need to live our lives? We should be doing what's best for ourselves and not how other people think we should.
I just subscribed. Thank you so much for great info. I love the way you renovated the house and love how you advise to get a house that is affordable. This way you can have the freedom to do other things with money and not be stressed out about payments. I've seen people buy an expensive home only to see them barely able to afford food or going out once in a while. Others I've seen buy the big house and then lose it 3-4 years later. Great video. I look forward to more home buying/renovation and financial tips💖
Really appreciate it Nicole!!! Yep to all of those things - I'v'e seen folks not factor in a possible job/income loss. You should be able to still make the mortgage payment if one of you becomes unemployed.
One of the cons of old houses in Florida is maintenance and the foundation start deterioration. Old houses can be cheaper than new build but you won’t have problems with new builds in like 10 years
I just bought a 1940 1,500 sq ft 3 bdr home with carport, detached 2 car garage and large storage building on 2 1/2 lots for $36,000 on a 10yr contract at 5% interest. My house payment $350! This house needs some love but livable and we moved in 2wks ago, I will do as much as I can on my own then hire pro's for the rest.
Congrats!!! Glad to know you can still find some deals out there! $36K!!! Wow!
Great advice. We bought a foreclosure. Renovations are difficult. ....Still at it. Thanks for the honesty.
Thank you! Wanted to debunk how glamorous and "easy" it looks on HGTV. As you know, it's anything but!!! What are you doing to your house?
What!!! My flood insurance in FL was between $400-572...wow. but flood zone X. But this is up in the Panhandle. But SO worth it!!!
Thank you, I'm planning on buying my first house somewhere around this price and I needed this. You really did some nice things with the house, and I would have been extremely proud to live there!
Good luck with your home search!!! I'm very glad we didn't buy too much house and stayed well within our means - there is a lot of freedom that comes with it.
Our house was 50,000 after closing (our first home). Three bedrooms one bath ( at the moment the bathroom is smaller than the master closet). Unfortunately it had been renovated several times (lots of old carpet, cardboard paneling and fake wood paneling, and linoleum). Right now I'm working on ripping everything out so I can restore the gorgeous wood floors and woodwork. This year's major project is the basement. We will be doing a nice laundry area, my husbands man cave room, and our food storage room. Not looking forward to moving the bathroom, gutting the kitchen, and redoing the driveway in years to come. It will all be worth it in the end though.
Wow - what a find!!! And it has original hardwoods???? It will be worth the sacrifice and you even have a basement!!!
This is exactly what I want to do!
First I love older homes and can picture renovating! So I really hope to find the best deal! Ty
Thanks for the comment! I made a follow-up video talking more about flipping homes if you're interested: ua-cam.com/video/ftwXrHuRRGs/v-deo.html
Great tips. I dont buy above my means. I live in an old home to in Atlanta.
Definitely something to keep in mind - always live below your means!
I'm always stuggling with that kind of stuff, do you have any tips?
Sabeeta Javed 1. Get rid of car payment asap.2. Fix credit if needed 3. Get Duplex 4. Section 8 pays great 5. Cut all Debbie downers & car payment Chris's off. (Family included) 😊6. Exercise & meditate daily 7. Buy portable steam sauna on Amazon for $109 (use oils) 8. Go for walks in nature daily. 9. Read books 10. Buy Mila Chia for $60 a bag and add to your daily green smoothie. 12. Cut off netfilx, cable. 13. Be kind but firm 14.forgive & Release any and all hate.15. Start a daily journal 16. Research real estate on Biggerpockets.com 17. Start your own part/full time business (hint: read the millionaire Fastlane by MJ DeMarco) 18. Don't be cheap, be frugal AKA "BIFL". 19. Stop sharing goals (it's a heavy reason why things don't become fruitful). 20. Get out of the passenger seat (read hint #17). 21. Depression is real, fasting can help in most circumstances (read Quantum Eating by Tonya #DryFasting). 22. Sometimes Offering free service in return for knowledge allows you to excel 100 fold 23. Have goals 24. Help others if possible when asked too or not. 25. Keep a cool head.
I paid 50k for my first house then sold it for right at 100K.
WHOA!!! ROCK On!!!!
I watched this entire video twice in one week. Some awesome tips you gave us Jen. Looking forward to see many more videos from you.
Thank you! We hope to buy another house possibly within a year so we'll be continuing the real estate journey and I'll be talking about budgeting and other randomness.
I'm in a process on purchasing a $69k home that the seller even helps with $2k closing cost. The house seems to be older than yours and need tons of work but you are right about low mortgage payment. I'm lucky to get a 3% interest. Wish me luck for the bank approve me and be able to be a home owner next month because of the home condition not excellent.
We just bought a $30000 Home with a huge backyard and 2 two car garages. It will be paid off in a year. The house has excellent bones despite being abandoned for 3 years. Definitely needs sweat equity but the problem we're running into is no one wants to work or they wants to overcharge you thinking your new homeowner= stupid or giving us proper advice like where should we start.. what's the most important thing to focus on for now all they keep saying is you're never going to get the money back(Duh Idk😒) and throw in a furnace and paint the cabinets ( cabinets that you can literally pick up shift around the kitchen like a video game with cracked doors) and rent it. Do the bare minimum but we're trying to live here for at least 3 to 4 years to build our nest egg and pay off debt. Yes it's not a great neighborhood but it's quiet and clean and my children are grown so I don't have to worry about school districts it's starting to get a little discouraging
Look at comps in your neighborhood to see what other houses are selling for. If comparable properties are selling for $100,000 that gives you room to improve yours a bit. If that number is more like $60,000 don't spend a ton of money. Are you handy? I'd probably start with deep cleaning, simple painting, maybe replacing / repairing trim. Part of the reason we kept costs low is because my husband did most of the work himself and didn't need to hire out much. It is difficult to find reliable help. Spend this time learning how to do some of these tasks if they're within your realm. Obviously there are some areas where you may not feel comfortable DIY'ing like plumbing / electric / HVAC. We used Home Depot to install counter tops and they did decent work. Best of luck to you!
The renovations are BEAUTIFUL!!
Thank you!!!
I like the style of your channel. Well done!
+Dollar Dude Thank you so much!!!
Hello I just came across this video wow your hubby did a great 👍🏽 job I love it keep up the great work
I absolutely love your logic. I think just like you! I want to be comfortable living and always think of what ifs. Anything can happen. Ty!
$48,000.00 purchase price plus $18,000.00 improvement costs = $66,000.00. You made $19,000.00. Is that more accurate? Did you include deduction of closing costs as well?
Yep closing costs should always be factored in
William Benson exactly what i was thinking.
You didn’t pocket $35k. $48k +$18k+$6k commission and closing cost makes $72k. More like $13k?
I agree theres no way you pocket that much..47,000+18000+6000 commision cost of realtor..you where lucky if you pocket 13,000..your husband did a amazing job fixing up the place ..beautiful..i bet its worth way More know 2018..
Lol..i caught that too. Wasn't even paying close attention. Had my mind running circles jeje had to rewind the vid cuZ it just didn't sound right. I don't consider myself math savvy, but hey she coin savvy. That's what's up.
I'm planning on moving to Tampa and flipping a cheaper house 😁 Even if it's a rental or a small profit I would prefer that to renting from someone else. This is getting me excited to start the process.
Love how you reply back to everyone. Subscribed 😊
Thank you Mommy D 🙏 I try, although I do sometimes get some bizarre racist comments over here - those are the exceptions...
That's what I'm doing as soon as I can get a morgage, buying a 'cheap' house (somewhere around 50 000), living in it for a couple of years while renovating it then selling it and hopefully make a small profit at the end to use for the next one (:
Alright!!!!
We're a young couple buying our first house. Needs tlc, glad I found your channel. Yes, please do a video on how you guys Are going rid of student loans. Please do videos on cheap renovations of a old home.
Thanks so much! You might enjoy my playlist on Personal Finance - I've now done a couple talking about student loans, our cheap wedding, and flipping homes. I'm hoping to help people like yourself by talking openly about money and living frugally. ua-cam.com/play/PLq0GbIWWuYrxnsPk-Mn1my7AZ9xGCfDwW.html
Great video!
Hey Jack - thanks!!!
When you live in NYC and a 47k home sounds like something out of a storybook... lol
But great job with the renovations, completely changed the mood of the place!
Thank you! Man - I could not live in NYC!!!
Will i bought 35 thousand dollar house and it was great i spend 5 thousand for renovations and appliances lol so a total of $40,000 lol
Whaaat? This was $47,000? My house was smaller but since it’s in the middle of the city, close to the mall and a high school it’s $116,000, was listed at $122,000. Damn!
I would love this. My Mr. Fix it husband would have a heart attack.
Thank you! I love your channel and thank you for this. I am looking into a foreclosure home for my beginner home. I am 34 this would be my first attempt to buying a home. I am glad I click this channel
Wishing you luck on your first house!
The after picture SHOCKED me that’s fantastic
this is really motivating and inspiring for young couples :) thanks for sharing your story!
Appreciate the support Lucas!
Tremendous transformation though brave that u even bought a short sell cuz i heard when u go into short sell ur buying the house with eyes closed not knowing anything of it and whatever debt the former owners had u would have to pay so u got lucky
We have always lived on one income. When kids come, it makes life much better for years later.
Yay for budgeting!!!
Wow that is gorgeous. Your husband does amazing work
This is crazy great job!
Ive got that same kitchen tile from floor and decor
You inspire me to think that one day I may be able to buy a house!
Thank you!!!
I agree. We bought our house for $36,000. Now we are looking into renovations.
Awesome price! What geographic area and when did you buy? I still think deals are out there if you're patient and willing to look beyond cosmetics.
This is real talk Jen!!! I am in my 40s and this a great template!!!
It's been working for us so far - if you have certain qualities and are okay with living in homes like this - you can make some money over time and keep your own cost of living low.
My house was 40000 when Me and my bf bought it at 18. I’m 21 now and barely going to renovate it in a few years we will be able to resale!
You and your boyfriend were so smart to buy a home at that price - look at it paying off! Amazing!
Beautiful renovation absolutely beautiful 😩😩
Wow I need to move 😅 can't even buy a studio apartment around here for less than 200k. Florida is starting to sound nice! :)
My folks live in the Sarasota area - that is one of our favorite parts of the state! Traffic's not bad and not quite as prone to hurricanes. No state income taxes!
Jam you won’t find that price point today in FL....not even on a short sale.
well done Jen, this is so beautiful and very inspiring. Thanks for sharing.
Thank you so much!
Thank you for this video! We always think about buying a second home, maybe not in Florida but it's a great insight.
Glad you found it helpful!!!
Absolutely beautiful you guys did a wonderful job with this house and to make about a 25% profit is cool as well. Very smart.
That's so cool. Me and my husband are buying a house around the same price and it's definitely going to need renovations. But I'm looking forward to low monthly payments and such.
Alright!!!! Go for it!
Im your 1600th subscriber! I really like your channel and your overall vibe:) looking forward to checking out more of your content! We bought our house 4 years ago for 65,000...i agree its so important not to bite off more than you can chew!
Hello!!!! Thank you for being 1600! Yay for your $65K house - that's awesome!