How To Flip A House In 2020 – New Property Walkthrough

Flipping
In this video we do a walkthrough our latest house flip and discuss our renovation plans.

This is a 4 bedroom, 2 bath home on 2 acres in a suburb of Grand Rapids, MI – the 2nd largest city in Michigan. Because of the quality of the home and area, we are going to put higher-end finishes in this home to attract the proper buyer.

Here’s a breakdown of the numbers we hope to achieve on this flip:

Purchase Price: $185,000
Renovation Budget: $20,000
Total: $205,000

Sales Price: $275,000
Net Profit(After Closing Costs): $50,000

The one wildcard we discovered in this video is that the furnace is broken. We are hoping to be able to repair it for a few hundred dollars rather than replace it for a few thousand.

LETS SEE IF WE CAN DO IT!

Also, please comment on this video and let us know what we missed/didn’t cover in our last flip. We will do our best to cover it in this one. We want to be as open as possible about our process!

Here’s the playlist for our last flip: https://www.youtube.com/playlist?list=PL-DxGggo9JMLYUDkDAPc8HfwrfGOrddL7

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *