Before and After House Flip With All the Numbers! How Much Did We Make?
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- Опубліковано 27 сер 2024
- I bought this house from my direct marketing campaign for $312,000 in July and we sold it in November for $423,500. We had a lot of costs because the house was so expensive but still made over $40,000 on it.
You can see my full list of house flips with numbers and details here: investfourmore.... We have over 6 properties on that page from the last couple of years.
We spent about $30,000 on the repairs on this property which was mostly flooring and paint. We also spent over $15,000 on financing costs and over $15,000 on selling costs. I go over the exact numbers in the video.
The house was one of my favorite flips we have done. Nikki, my project manager chose all the colors, and design choices which turned out awesome. She did not tell me what we were going to until it was all done.
So far this year we have sold 25 flips and bought 24. I am actually behind last year on buying properties! I will need to buy five more by the end of the year, which is possible.
You can check out my book on flipping which goes over everything I do here: amzn.to/2Sofqhh
Mark, you are a good guy! You actually show before and after videos not like most people that just sell you a course to scam you and make money off your back.
Thank you
If a person can adjust the percentage of your numbers for their particular area, this is golden information. Thank you for your tutorials.
Amazing what a coat of paint and new flooring can really brighten the house !
I like the dark tile
Great work Mark! I like this videos where the before and after is rolled into one video.
Thank you!
I love this type of videos too! It's like watching property Brothers hahaha
Nice job I really like the white cabinets and the dark counter tops. You should have painted the vanity white in the basement.
Thank you
I’m really glad I found this channel. I love how detailed you are with your analysis of why you invest time and money into certain areas and break down your finances to a T. You can tell your level of experience because you salvage more then you demo when possible recognizing the bigger picture. I know many contractors don’t like being filmed but would love to see a walk through video when no one is around of the middle stages of your flips to see how things look. Even just pictures. Awesome work.
Real nice sweet house Mark... And I'm so glad you didn't bother the already perfect upgraded bath in the basement!... 👍🙂
Love your vids man. Closing on two houses monday to flip. Texas!
Nice!
You've taught me so much in the past few months I've been watching you, Hope to work w you in the future!
Thanks!
That floor though so pretty
Aww I like that dark tile. Very 90s.
Just found this channel we are house hunting for our first home and were curious about so many numbers. this is a great resoruce!
Glad it helps!
Stunning! You best keep that guy on your payroll. Beautiful job!
Thank you
The house turned out great. I love the counter tops.
Thank you
Awesome job! Very informative video. Much appreciated. Keep them coming.
Good call on the hardwood floors. Big improvement. Those kitchen cabinets, though? I don't even know what to say about those. They looked so much better before you painted them white. Apparently, someone was willing to buy it, despite the kitchen.
Most people do not like Oak, at least here
@@investfourmore personally cannot stand oak myself. Great job on this!
LOVE ❤️ this house so much after !!! Great job 👍🏼👌🏻
Thank you
The front of the house is gorgeous!
Great video, thanks Mark. I like the business decisions you made with the bathroom dark tile and shower surround, which further explains the excellent margin.
Thank you
What a great flip!
Gorgeous house!! WOW!
Thank you!!
So glad you didn't tear out the one-piece tub/surround. That would have been such a waste. We're about to embark on a renovation and have no intention of tearing out the one-piece in the guest bath - just clean it up really well, like you did.
Nice good luck with it
It’s weird how that one room locks from the outside!
Taxes are cheap by you. I’m jealous. A house by me going for over $400k would have at least $10k a year taxes. I’m a realtor in Illinois and my biggest issue with first time home buyers is them not understanding how much taxes affect their mortgage
Illinois sucks for taxes!
Why are Taxes so high there in Illinois?!
Nice house , I even like the yard, surprised the fence in back by the neighbors was low. Like the high ceilings . Just curious have you ever tried the outfits that come out and recolor the tile you have? I had a Aunt have her kitchen tile color changed , I didn't even know they did that
really like what you did with the railing color and the kitchen
i have not tried that
The main floor, kitchen and railings are the best I have ever seen on any of your flips. Best design, fuxtures and color choices I have seen from you. That said, maybe it is the camera but the carpet color seems not to go with the paint color. You did save a ton of money with the baths. I'd buy it.
Yea good vid. Enjoyed it
Lovely home! It looks so nice, wish I could live there
ThankS!
Nice job Mark... Sweet House!... 🙂
Thanks!
That dog would drive me crazy...
Dog would be my friend..or sleep alot
After you move in the dog would most likely stop barking. That has been my experience. Depending on where you are, you might just learn to like the heads up they give.
Michele Mcguire if it was my dog...you’d sleep too 😡
Not the house for you then...
Great videos Mark. I also use a private lender - similar interest rate but no points or closing fees, just the interest with a 2 month minimum.
Nice
Hate stair railings too
Very nice. Congrats!
Thank you
I am really enjoying your videos. I've watched about 10 so far and really appreciate you going over the details of all the costs involved. I'm wondering with all the properties you are flipping, are you working towards being your own financer? it seems like the financing cost is a huge cost that you could be able to increase your profit if you managed that part yourself.
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Wow you did an amazing job!
Want some leads on properties in Washington, DC? Lots of multi-units here.
I just work in Colorado
I do lol
I love it you have great skill
Thanks!
Thank You. Learning so much!
That kind of house we’re I live would cost more than 500k
That would be like almost 2 million where I'm from. Sad.
I love the results, except painting wood cabinets constantly. I can't stand painted wood, I would prefer stained wood. It drives me insane. Other than that, love the houses!
Buyers today who pay premium prices for homes don't want wood cabinets and wood trim/doors.
Doesn't matter what they want, my personal opinion is that natural wood should not be painted. I think it looks better natural. Some wood looks great painted, but every time it is wood, it's automatically painted. Some people like wood cabinets. I have a $200,000 home with natural wood cabinets stained. It fits my country kitchen. A home that is "cheap" may have the metal kitchen cabinets. It depends on the home. To me, it sounds like you're assuming I must live in a cheap home, well I do not. So stating my opinion is just that, my opinion. Nobody has to agree with me.
Yes, condo hoa is completely different. But not neighborhood hoa's.
Wow, property taxes only $3000 annually? Suburban Chicago you're looking at around 11-15k annually for 3500 sqft.
YEs, very cheap here
Wowie zowie. I'm in Lawrence, ks. My taxes are $1800 a year, and I'm near campus.
Great content, very informative!!!!
Thank you
Huge house!
Why didn't you paint the lower bathroom cabinets white?
Have you ever thought about staging? Or is the market so hot where you’re at that there’s no point? I’m just curious on what you’re thought is on that.
No, we never have. I personally like to see houses without anything in them although I know others like to see them stages. I think if you stage you have to go all out, and I am not sure the cost is worth it.
It's not really worth the money, To quick flip businesses .
Love the house!
Love the house. Putting in carpets seems so close to cost of just putting all hard floors. But it is 2020 now so it may have changed for what you would do now. 😊
Nice floors a a big thing.
Carpet maybe only in the bedrooms..
You should add video of the construction you might be able to get your own show.
I have had a few people approach me about shows. My guys don't like to be filmed when they are working
Love the kitchen..
Lovely home.
Shame they can't all look like this. But I guess it depends on what you have to work with.
I know you only spend on a home as to what the market determines you may get. Have you ever thought of going all out on some homes. And selling for more than what the market is?
It happens all the time in Australia. If it's done well, is stylish and no expense spared on quality finishes. Homes have gone for sometimes up to 300,000 more than the average price. Even more
But I guess thats not what you do...👍😁
When people really love a home, they will pay for it. But I guess now is not a good time..
Covered porch/entertaining area out back would have been nice.
Build a roof area for cover, nice pavers for a few square meters..👍
What color stain is that and what brand? i like it
Blue is my favorite color 42 great brick my eye is ready to open the story on my ex and kids father and friends I just got this egg like a rock that I never saw them or what they lived in drive in and wear so up on the hook 42
This may sound like a stupid question but what do you mean by Private Money?
Basically a loan from someone you know
Mark Ferguson - InvestFourMore that's what l figured...l would love to fix and flip.
Thank you for asking this because I wanted to know too🤷😂
How much do you think this house would sell for if you would just put it back on the market as is without doing anything? The paint didnt look too bad on video...
Hard to say, but it was really dirty and worn. $350,000 to $370,000
@@investfourmore Sounds like you made 20k by buying + 20k more by doing repairs.
That is about right
Beautiful house!!
Thank you
What do you guys do with the old appliances
RNR paint them lol 😂
It looks so easy to you .... but for the starters, it is too hard to find a deal
It is never easy
I subscribed
Me too! Lol
Can't believe what a wonderful difference to fill in the wood floors!
Thank you
Looks great!
What paint colour is that when you first walk in?
Have to check with Nikki
Hey mark, thanks for all the videos, how do you fund your flips typically? What type of terms do you normally get? Thanks!
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Mark you ever think about groundfloor.us for funding? So your viewers can participate in your fix and flips
No, the crowdfunding sites seem like an awful lot of work to get funding from.
Shorten chain in hanging lights
Hey Mark would you say you’re addicted to success? What keeps you going?
I love what I do
$2,700 dollars a year in property tax? ugh. Here in the suburbs surrounding NYC that house would easily push $15,000 a year in taxes.
I believe it
Where can u get 1500 nice appliances?
home Depot
Great video! When you use private money or any non- bank source, what are some general contract terms between you and your non-bank lender? Does the private money have a 1st lien on the property? Thanks!
Yes, they do
Very nice
Do you not put fridges into flips? And why are you taking a commission when you buy, but not when you sell? Are you listing it with another agent to free up your time for showings?
No, we don't need a fridge. I still have to pay a buyers agent when I sell
I hate that the ceilings aren’t white 🤷🏼♀️
It's a ton more work to paint the ceilings and walls two different colors, which means alot more money.
Iso My painters don’t charge me anymore to paint the ceilings white. If they are good painters that don’t need to tape it doesn’t take any more time. One person zips through the house doing the ceilings first in flat white ( which is actually a cheaper paint ) & the others follow behind cutting in & then start the walls.
What color was the interior of this house painted?
I would have to check with Nikki
@@investfourmore If you could do that I would greatly appreciate it!
Nice job!
Thank you
@@investfourmore You're welcome. I invested in properties for many years but unfortunately didn't do as well as you. Wish I had you for a mentor! I am also an artist and designer so appreciate when you utilize great colors and the right mix of materials. Makes a big difference without breaking the bank!
Hey Mike question.
Just got a duplex living on one side and the other is already renting for a little more than my mortgage. I also have a mortgage on mortgage on Another house which is renting for about 500 over my mortgage. You think I should have those homes pay for themselves and save up for another one or pay off the mortgages? I owe 50k on one and 96k on the other. I know you are not legal advice but I just wanted to know your opinion since you seem to have more experience. Im 24. And want to have as many rentals as possible before 40.
I would not pay off anything personally. investfourmore.com/2018/08/29/why-i-paid-off-my-car-without-making-one-extra-payment/
@@investfourmore why not, in your opinion? I'm truly just interested to understand your thinking on this for my own further knowledge. Thanks in advance!
Ugh. I hope to get to these “easy” flips after this one I have now. Still don’t know if I’ll make any profit.
They are not easy to find that is for sure
Surprise! It is a newer home.
I need a good national hard money lender or a private investor, any suggestions.
investfourmore.com/resources/lenders/
Mark, is it expensive, how can I check my house for radon?
Dont paint the cabinets
Omg go away your comments are annoying AF 😂
Really too bad for the bathrooms, you guys should have renovated them
Hi Mark.
Would you be interested in a JV in the Boston market.
I have a family member who is a Real state agent and another on who is a loan officer.
Boston market is more expensive so i am missing half the funds.
Sorry, I don't JV with anyone on other projects
Love it, but I'd take all the carpet out if I bought it.
MrBubblescookie bedroom floors cold in Colorado in the winter.
Lol it's funny how you said it's expensive, but it's really not. Houses here in van are all over 1 million.
It's all relative
I hate Pergo flooring. Put real wood in.
He's not concerned with what you personally like or don't 😂
Wow so expensive.
Why paint oak cabinets. Such a waste
I like the hardwood . Carpet are disgusting. I don't understand why people is having carpets everywhere
awesome....your private lender has a good life...... and a good deal on this .... so you had no skin in the game?
I paid for the repairs and carrying costs.
That backsplash gotta go and why didn’t u just out wood all over the house ugh I hate carpet
Jesus, dude...STOP talking about how little you pay your hourly employee. I make more than double what he makes, I probably do less manual labor (occasionally I carry a 135 lb ladder a few hundred steps into the woods, climb it, fix a phone line and carry it back out), and the only downside is that my bosses are faceless ghosts I get to tell my daughter about when she wants to hear a scary story.
High like your videos but one thing I have to comment on you never talk about closet space which is very important to a woman we have lots of clothes lots of shoes lots of purses we like having huge closets walk-ins preferably even in the smaller homes it would be nice to see instead of another tiny bedroom that you add on making a one bedroom house big with a huge walk-in closet I speak for all women believe me
And having drawers in a vanity in the bathroom is a huge plus two we have a lot of makeup hair brushes Etc we need drawers in bathrooms
Where would you have added a bedroom in this house?
@@investfourmore nowhere in this house I'm staying in one of your smaller houses one of your one bedroom houses
Sweeeeet
Hate the kitchen
$42k for yourself??
Yes
Mark Ferguson - InvestFourMore where do I sign
What do you pay in taxes on that? What do you net after uncle sam gets his cut?
Ouff, The financing guy is not your friend, he's eating your lunch and dinner and dessert and wiping his mouth with your shirt when he's done.
He makes money and I make money. Win win
Why pay a realitor ? You are a realitor ??
Because there are two sides to every deal. The sellers Realtor and the buyers Realtor. 90 percent of houses are sold by different agents and I want to get the most money I can.
I'm sorry but I wood rather keep the oak cabinets instead of painting them white.
Everyone has different tastes. We try to go with what the majority want