Nice! It's a business that provides real value - updating housing stock - to a community. The average homeowner couldn't get this amount of work done for that cost.
@@keithhicks3358 found out that in some cases you can get the private money lender to also lend for rehab costs and other cases they come out of your pocket depends how good is the deal and how good of a relationship you have with the lender.
i dont know why but for the past 2 weeks every time i am bored i watch your videos. they are just so interesting to me, i love how you keep it real with the commentary and i love watching the progress
It looks like we all do our houses in the same colors. I started flipping six years ago. Gray paint throughout. Brushed nickel everything. Fixtures, doorknobs, hinges etc. High hide white trim, six panel doors and baseboard. Engineered hardwood, contractor grade .69 cents a square ft carpet. I get my cabinets and counters at an import salvage company in Columbia SC where I live. Great job, looks good. Flip on :)
Would you have still bought the house if they held firm at $190,000 when they dropped the price the first time? If so, would you have done less rehab to ensure a better profit?
Thank you Mark for this very informative video. Especially for breaking down the numbers at the end. Most people don’t know just how much it cost to flip a home. So much more than just the repair costs.
Again, another great video. Most interesting is to see the before and after. We can learn inmensily from it and the numbers? Many thanks for sharing. You are not selfish at all. Congrats
Gret video. I like how you leave nothing out. The numbers breakdown is awesome. I like how you mention in your videos what would be wasted money. I'm interested in doing what your doing in the suburbs of Chicago. I just subscribed.
@@investfourmore You're welcome. When you do hard money loans, do you wrap all costs and rehab in to the loan? If so, how do you pay for any fees upfront? Checking your link out now to see if the answer is in there: investfourmore.com/flip/69/ Ouch! $997.00? Thanks I'll pass Lol!. About to get on a free couching call. Thankd again for the vid.😊
I paid way more than that for education! The funny thing with free is you usually get what you pay for! My guess is they tell you nothing but try to get you to buy into their 30k coaching program.
the only trusted and legit cash trade investment platform, I will always deal with crypfundsinvest.com, I got $500000 after investing with them, I will never stop dealing with crypfundsinvest.com He can help you with it
I would have taken down the big ass wall in the middle of the kitchen but I don’t know if it was a support beam but it looks good planning on doing them same stuff you doing when I’m in older
Loved the video and transparency. Just curious, in retrospect, would the numbers have supported accepting that first deal at the lower $250,000 appraised value over carrying the property for the additional 4month plus mortgage and expenses?
I have watched dozens and dozens of these house-flip videos and it seems the same colour schemes are always used. Is it because beige for walls and carpets is neutral or at least *fairly* neutral and can easily be painted over ? I mean, do many of the new tenants want to use different colours on their walls and possibly swap carpeting for laminate flooring for example ? Just interested ;) .
question, I think you are in Colorado, so why would they build a house without a attached garage and just put a parking pad in the front yard? Seems odd. I think parking pads in the front coming right up to the house looks awful. Nice job on the house though, looks really good inside
@@investfourmore those just look awful, nice redo though and I would take the cement pad out park in the garage in back and have a nice entrance to the house
Hello, a few questions. You actually changed the front door, didn't you? And do you install the same flooring even in the bathrooms, being a wet area? Thanks
Mark Ferguson - InvestFourMore thank you for the response. If you do find out please let me know. I am just curious on whether it's needed. I understand it's easier on your footing
I watch a lot of these videos and have noticed that in Colorado the walls in most houses are textured before the reno .... not smooth....and I wonder why. Have never seen this where I live.
Mark, thank you so much for sharing so much of your knowledge. It is so beneficial as I hope to purchase in the very near future. Congrats on your new brokerage!
Great channel man. I wish I had the knowledge and the comfort level to do what you do. I live in Sacramento and I wish I got in the game back in 2011. Anyways, keep up the good vids.
Another alternative would be to become a 'lender' yourself and draw up a "Rent to Own" contract between you and the buyer. They would have to come up with a $5,000 to $10,000 "Ownership Deposit" and agree to a definite timeline as to when they would be able to purchase the home, ie: 18 months. A percentage of their monthly rent would go towards the principal during the 18 to 24 month period (as agreed to in the contract). Once the agreed time has arrived and they are not able to secure a loan, whether conventional or non-conventional, then they lose the right to purchase the property and forfeit the deposit, which you rightfully keep (all verbiage in contract of course). They would simply revert back to being renters. Make sure the original contract contains clauses making them responsible for any and all repairs to the property and appliances. This way, you're off the hook in replacing anything they damage. These clauses have to be gone over very carefully with the renter/potential buyer. This may be a solution to your having to endure carry costs while you're waiting to sell the property. Of course they would have to pay a damage deposit upon moving into the property in addition to giving you the down payment/deposit toward ownership. This way you don't have to incur carrying costs and you are giving them an opportunity to not only purchase the property, but assisting them in "buying time" to qualify for a loan. They would be "Owners in Training" while at the same time paying your mortgage and utilities. Said carrying costs would fall on their shoulders now.
You stated the the repair cost wasn't broken down, I'm just curious, say you already had EVERYTHING you needed for repairs, Would the repair cost would have been significantly? Cheers
Omg ! Im freaking hear ! Thats a enormous amout of money for a split level ! I think that would sell for 180 brand new where i live .. But prices are creeping right now !! Definitely a sellers market !
Yes they do. However, the FHA appraisal sticks with the house for 6 months. Once you get one FHA appraisal you cannot order another one and hope it comes in higher. WIth conventional loans, the appraisal is different from FHA and does not stick to the house. The buyer was able to get a new appraisal that did come in higher.
FHA appraisal sticks with the house if it comes in low. I would have had to sell it for $250,000 if I got another FHA offer, but with conventional, we got a $260,000 offer and the chance for a new appraisal to come in at value which it did.
Great informative content!!! Couple questions. Are you paying cash for these houses? Do you think it's possible to do this with an FHA loan? Or on a loan/loans and still be profitable?
Like that you got rid of that doggie door. Buddy of mine had one for his cat's but then once in a while, random animals would get in. Had a possum roaming through his basement once. Personally, when I see a doggie door when looking at a house for sale, while probably not true most of the time, I can't help but think of vermin. rats, etc.
@@joshuacassino7297 A little less than a month of work left. Hardest part is finding contractors. Closing on our second flip next week. Going to view a possible third flip today.
Hello Mark, do you use any property management software to track your filipings and Rental ? I am using Excel to track my rental and Filipings, but it is not dynamic and flexible.
I understand all the calculations, but where exactly did you get the actual $62,531 from,for all the repairs?.. bc it shows the loan just covered the price of the home
@@investfourmore I guess my question is, when you get the loan for any house, where do you get the money to make repairs? Like do you use your own money for repairs?. . Example: a house cost $190,000, but it needs $32,000 in repairs, where do you get the $32,000 from?
@@investfourmoreso if it's your first flip, & you don't have equity in another home to tap into, what do you recommend you do to get money for the repairs, carrying cost, etc for a beginner flipper.? & also Thank You for responding to me & answering my questions, i truly appreciate it!
I've been to some sketchy and shady homes for my job out in Colorado and this one gives me that vibe... I've always wondered.. why does Colorado texture their walls like that??
Hi Mark, glad I found your channel, I am watching your videos since yesterday! I watched more than 10 long once since then, thanks for sharing, just about starting my 2nd flip in Pittsburgh Pennsylvania! what is the price range for carpet and floor do you recommend? Is it engineered hard wood or cheap/mid/exp laminate? Is it $1/$2 sq ft carpet!
Mark, I’m a long time watcher and have learned a lot from your vids. I was wondering is your ultimate goal to pay for these deals with your own cash? It seems to me that in most cases that would increase your profit by about 50%. Or do you plan on always using other people’s money so that you can ultimately have more fix and flips happening at the same time thus increase profits that way? I personally like to pay cash for my deals because I don’t like giving the banks money or the hassle of getting the loans but at the same time I only do one deal at a time so my volume is no where near yours. Thanks!
Here in Norway you will not get paid for your house when it looks like that. The buyer can withhold money either to compensate for the mess or get someone to clean up.
Miss Elmyra- Come on!! You can look at every property & tell there's nobody consulting!! SMH. It's all about doing less & charging more!! Flips are shady. It's far from HGTV!!
Just curious, I know this is off subject but what phone do you use to record? I am looking to get a new one but I don't like the price of the Galaxy S9, I was thinking maybe the S8.
Wowza! Great work! Though I don’t agree with the carpeted stairs. The steps should have been tiled or made wood. And you could have backsplashed the kitchen. Come on man, don’t let the ball drop on the all important small details!
I’m not an expert, you are... With that said, I still think you should cover the small details in your projects. If a kitchen is real small like the one you did with this house, then backsplash it. Humans are shallow creatures who love prettiness. They see something pretty and goes gaga. I believe a house would sell faster if the small details are covered and make people’s eyes pop. I know that I for one are a very shallow creature, and if I was house shopping and saw your house I would have forgiven the no backsplash in the kitchen but those carpeted stairs would have been a deal breaker for sure.
Depends on all our other expenses, the deductions we get for having a corporation, and many factors. it is weird how we pay taxes on income just like any other job.....
@@investfourmore thanks mark, i just find it interesting that everyone who flips always talks about how much profit they make before taxes are paid which can be a huge hit when you are small and can effect that profit in a big way. Nice videos though!
Yeah back down to eat tv some outside sleepover camping tv bottom top rest space keys lining extra sink in family family tv room on side wrap around into some rooms again
You have great videos and information, I think if you vlogged day to day operations you'll get much more traction on your channel. Documenting the flip might help, that way you do Day 1- Kitchen remodel... ect. you can film it all at one time and just release them day by day ect.
I would have swapped the range and fridge, it would have opened up the kitchen a lil' more taking out that wall. Over all the place looks nice ( i hate the split level design ) but....to each his ( her ) own :)
Nice! It's a business that provides real value - updating housing stock - to a community. The average homeowner couldn't get this amount of work done for that cost.
Well said!
I like the before and after in the same video format:)
Nice vid! Had a question how do you cover the rehab costs? Like Is it cash out of your pocket or is that covered also by the private money loan?
Jeff Huebner Yes me too! I can never find the ones that go together!
@@giovannierivera7046 great question
@@keithhicks3358 found out that in some cases you can get the private money lender to also lend for rehab costs and other cases they come out of your pocket depends how good is the deal and how good of a relationship you have with the lender.
@@giovannierivera7046 Yes, I heard the same. Thank you for your comment. 😊
i dont know why but for the past 2 weeks every time i am bored i watch your videos. they are just so interesting to me, i love how you keep it real with the commentary and i love watching the progress
Thanks!
It looks like we all do our houses in the same colors. I started flipping six years ago. Gray paint throughout. Brushed nickel everything. Fixtures, doorknobs, hinges etc. High hide white trim, six panel doors and baseboard. Engineered hardwood, contractor grade .69 cents a square ft carpet. I get my cabinets and counters at an import salvage company in Columbia SC where I live. Great job, looks good. Flip on :)
We do change things up a bit
Would you have still bought the house if they held firm at $190,000 when they dropped the price the first time? If so, would you have done less rehab to ensure a better profit?
No, I would not have bought at that price.
YOU ARE A GENUINE FLIPPER SIR YOU MAKE IT LOOK SO EASY.
Thank you!
This is so interesting. Glad I found this channel.
Thank you!
Thank you Mark for this very informative video. Especially for breaking down the numbers at the end. Most people don’t know just how much it cost to flip a home. So much more than just the repair costs.
You are welcome!
I have decided not to flip but concentrate on rehabbing my personal homes and my rental properties. I am a fan of the show.
Thanks!
Again, another great video. Most interesting is to see the before and after. We can learn inmensily from it and the numbers? Many thanks for sharing. You are not selfish at all. Congrats
Mark handled the project brilliantly. The rehab costs, financing costs, and carrying costs could pile up easily and eat up profits.
Thanks!
Gret video. I like how you leave nothing out. The numbers breakdown is awesome. I like how you mention in your videos what would be wasted money. I'm interested in doing what your doing in the suburbs of Chicago. I just subscribed.
Thanks!
@@investfourmore You're welcome. When you do hard money loans, do you wrap all costs and rehab in to the loan? If so, how do you pay for any fees upfront? Checking your link out now to see if the answer is in there: investfourmore.com/flip/69/ Ouch! $997.00? Thanks I'll pass Lol!. About to get on a free couching call. Thankd again for the vid.😊
I paid way more than that for education! The funny thing with free is you usually get what you pay for! My guess is they tell you nothing but try to get you to buy into their 30k coaching program.
I'm glad you're enjoying your new office building Mark, and I hope it's working out very efficiently for you all!... 🙂
Thanks!
man im in denver area looking for a nice small house from the last one year. and i cant really find anything in the range of 250k
Denver is tough
the only trusted and legit cash trade investment platform, I will always deal with crypfundsinvest.com, I got $500000 after investing with them, I will never stop dealing with crypfundsinvest.com
He can help you with it
I would have taken down the big ass wall in the middle of the kitchen but I don’t know if it was a support beam but it looks good planning on doing them same stuff you doing when I’m in older
Loved the video and transparency. Just curious, in retrospect, would the numbers have supported accepting that first deal at the lower $250,000 appraised value over carrying the property for the additional 4month plus mortgage and expenses?
it only took an extra month so it was worth it
Why didn't you pay a little bit more and get the utility room finished?
Because it would have been wasted money
Front door sticking..is that do to found. probs.??
I wonder if you could create a side door, window, closet, full bath…..for a rental in the garage lol
That house has sooo much potential. Good find.
Would love for you to come and do some homes here in Detroit, Michigan. Also do you rent to own.
I have watched dozens and dozens of these house-flip videos and it seems the same colour schemes are always used. Is it because beige for walls and carpets is neutral or at least *fairly* neutral and can easily be painted over ? I mean, do many of the new tenants want to use different colours on their walls and possibly swap carpeting for laminate flooring for example ? Just interested ;) .
we use a lot of different colors. Neutral always sells better
I prefer the before and after all in one video!
question, I think you are in Colorado, so why would they build a house without a attached garage and just put a parking pad in the front yard? Seems odd. I think parking pads in the front coming right up to the house looks awful. Nice job on the house though, looks really good inside
Because they wanted a huge garage and it was a narrow lot
@@investfourmore those just look awful, nice redo though and I would take the cement pad out park in the garage in back and have a nice entrance to the house
I love this house you did an awesome job
Mark, what kind of flooring do you tend to use in the living room/kitchens/bathrooms? Looked like LVT in this one? Or was it laminate?
Laminate I believe but Nikki always picks it
What brand/kind of flooring (not carpet).....is in this house? I am re-doing my kitchen and want this (it isn't wood is it, is it linoleum(sp) ??
laminate from home depot
"$260,000 and a new appraisal to support that value as well"
I thought the original appraisal sticks with the home.
PianoKeyz
He said in the comments that FHA appraisal sticks with th e but not with conventional
Yup
@@mk17rmb p
You do all this hiring out the work? Or do you do a portion of it yourself?
hire it all out
Hello, a few questions. You actually changed the front door, didn't you? And do you install the same flooring even in the bathrooms, being a wet area? Thanks
For your luxury plank do you use padding? And leveller?
Have to ask my guys
Mark Ferguson - InvestFourMore thank you for the response. If you do find out please let me know. I am just curious on whether it's needed. I understand it's easier on your footing
I watch a lot of these videos and have noticed that in Colorado the walls in most houses are textured before the reno .... not smooth....and I wonder why. Have never seen this where I live.
yes, almost everything is textured
Mark, thank you so much for sharing so much of your knowledge. It is so beneficial as I hope to purchase in the very near future. Congrats on your new brokerage!
devinelyDsigned thank you!
Good stuff Mark. Thanks for sharing these types of videos.
Turned out very nice! People should just hire you to redecorate!
Which states have you bought houses in? Seems a little difficult to flip houses across the US. GREAT JOB THO 👌🏾💯💯
Everything in Colorado and one in Cleveland.
Great channel man. I wish I had the knowledge and the comfort level to do what you do. I live in Sacramento and I wish I got in the game back in 2011. Anyways, keep up the good vids.
Thanks, the best way to learn is to do it
Another alternative would be to become a 'lender' yourself and draw up a "Rent to Own" contract between you and the buyer. They would have to come up with a $5,000 to $10,000 "Ownership Deposit" and agree to a definite timeline as to when they would be able to purchase the home, ie: 18 months. A percentage of their monthly rent would go towards the principal during the 18 to 24 month period (as agreed to in the contract). Once the agreed time has arrived and they are not able to secure a loan, whether conventional or non-conventional, then they lose the right to purchase the property and forfeit the deposit, which you rightfully keep (all verbiage in contract of course). They would simply revert back to being renters. Make sure the original contract contains clauses making them responsible for any and all repairs to the property and appliances. This way, you're off the hook in replacing anything they damage. These clauses have to be gone over very carefully with the renter/potential buyer. This may be a solution to your having to endure carry costs while you're waiting to sell the property. Of course they would have to pay a damage deposit upon moving into the property in addition to giving you the down payment/deposit toward ownership. This way you don't have to incur carrying costs and you are giving them an opportunity to not only purchase the property, but assisting them in "buying time" to qualify for a loan. They would be "Owners in Training" while at the same time paying your mortgage and utilities. Said carrying costs would fall on their shoulders now.
You stated the the repair cost wasn't broken down, I'm just curious, say you already had EVERYTHING you needed for repairs, Would the repair cost would have been significantly?
Cheers
Not sure what you mean
What shade of paint inside is that? I just bought a house that looks exactly like this one from the exterior but in green and am about to flip it.
not sure
Can’t you dispute the appraisal?
Yes, we did and it was not changed
turned out nice😉
Omg ! Im freaking hear ! Thats a enormous amout of money for a split level ! I think that would sell for 180 brand new where i live .. But prices are creeping right now !! Definitely a sellers market !
Looks great, with the exception of the flooring on the top floor, those gaps are terrible. Better get on your flooring dude and see what’s up.
Grow house! I knew when I saw that Honda in the driveway.
what a great market. did you move there for the boom, for a previous career, or were already there in growing up?
I was born here
Conventional loans require appraisals too, right? I don't get why there would be a difference between FHA and conventional appraisals.
Yes they do. However, the FHA appraisal sticks with the house for 6 months. Once you get one FHA appraisal you cannot order another one and hope it comes in higher. WIth conventional loans, the appraisal is different from FHA and does not stick to the house. The buyer was able to get a new appraisal that did come in higher.
I really like the content you are providing! Can you briefly tell me why you prefer Conventional over FHA?
FHA appraisal sticks with the house if it comes in low. I would have had to sell it for $250,000 if I got another FHA offer, but with conventional, we got a $260,000 offer and the chance for a new appraisal to come in at value which it did.
Great informative content!!! Couple questions. Are you paying cash for these houses? Do you think it's possible to do this with an FHA loan? Or on a loan/loans and still be profitable?
I use loans for all of them. If you use FHA you have to live in the house for a year
Hey Mark, what flooring did you use on this flip, looks really good.
It was from Home Depot. I would have to check to see exactly what kind.
Yes, I was wondering the same thing. It’s looks beautiful with the paint color.
Great job, but if I bought it that slim wall between the kitchen and open area would have to go.
Do houses in where you are always need carpets in the rooms? Sorry I'm from hawaii so idk
It si common at least in the bedrooms
Like that you got rid of that doggie door. Buddy of mine had one for his cat's but then once in a while, random animals would get in. Had a possum roaming through his basement once. Personally, when I see a doggie door when looking at a house for sale, while probably not true most of the time, I can't help but think of vermin. rats, etc.
Holy crap. never thought of that!
Hello ! I’m new to the channel and I also want to jump into real estate. Any books you recommend?
Have you read mine? I have 8 on amazon www.amazon.com/Mark-Ferguson/e/B00FP1LZ1C
Mark Ferguson - InvestFourMore great thanks !
Did you include the $2K you kept of the one person's earnest money?
Nope. !
Beautiful home definitely worth what you’re asking!
Thanks for having all info on one video.
You are welcome!
Just noticed!! 22k subs! Congrats Mark! Nice flip too!!
Thank you!
Just bought my first flip. Similar to this house. It's in New York. I'm very excited to start!
MrChrisRenz Good luck on it!
Mark Ferguson - InvestFourMore Thank you! Do you have a specific order of operations on your rehabs?
how did it go??
@@joshuacassino7297 A little less than a month of work left. Hardest part is finding contractors. Closing on our second flip next week. Going to view a possible third flip today.
@@MrChrisRenz update?
Hello Mark, do you use any property management software to track your filipings and Rental ?
I am using Excel to track my rental and Filipings, but it is not dynamic and flexible.
I do not
I understand all the calculations, but where exactly did you get the actual $62,531 from,for all the repairs?.. bc it shows the loan just covered the price of the home
That is all the costs, not just repairs
@@investfourmore
I guess my question is, when you get the loan for any house, where do you get the money to make repairs? Like do you use your own money for repairs?. . Example: a house cost $190,000, but it needs $32,000 in repairs, where do you get the $32,000 from?
@@BiggThinggsTv i usually use my own money. But i have borrowed money from my rentals or family before as well
@@investfourmoreso if it's your first flip, & you don't have equity in another home to tap into, what do you recommend you do to get money for the repairs, carrying cost, etc for a beginner flipper.?
& also Thank You for responding to me & answering my questions, i truly appreciate it!
@@BiggThinggsTv Hard money can get you a little more
Do you buy houses outright? Or do you get bank loans to buy them?
Loans
Oh wow so even if you don’t sell it right away you have to make mortgage payments?
jdrose1000 that’s a really good question. I’m curious myself
@@jdrose1000 Yes
Where is the property?
Evans Co
I've been to some sketchy and shady homes for my job out in Colorado and this one gives me that vibe... I've always wondered.. why does Colorado texture their walls like that??
Always been that way
It's like that here in WI...I was told it was so dirt wouldn't show up as quickly, thus they wouldn't need to be cleaned as often.
How do you typically fund your deals? i know on a previous video you said you dont really use Hard Money Lenders. Do you use PML?
Private money and local banks
That was a great transformation! I really liked the colors inside the finished house! You're my idol! #FergusonAspirations
haha, thanks Brady!
nice set up & explanation
thanks
No problem!
Hi Mark, glad I found your channel, I am watching your videos since yesterday! I watched more than 10 long once since then, thanks for sharing, just about starting my 2nd flip in Pittsburgh Pennsylvania! what is the price range for carpet and floor do you recommend? Is it engineered hard wood or cheap/mid/exp laminate? Is it $1/$2 sq ft carpet!
We always get the fireworks carpet from Home Depot which honestly I am not sure how much it is. Usually the 1 to 1.5 laminate from HD
whats the tax percentage you pay the IRS after 31,000 profit? I have no LLC.
Ordinary income. if you have an S Corp it would probably be lower with new tax laws
thanks man.
Yes
Mark, I’m a long time watcher and have learned a lot from your vids. I was wondering is your ultimate goal to pay for these deals with your own cash? It seems to me that in most cases that would increase your profit by about 50%. Or do you plan on always using other people’s money so that you can ultimately have more fix and flips happening at the same time thus increase profits that way?
I personally like to pay cash for my deals because I don’t like giving the banks money or the hassle of getting the loans but at the same time I only do one deal at a time so my volume is no where near yours. Thanks!
I can do three times as many deals by getting loans. I will make $90,000 on three flips versus making maybe $40,000 on one without financing.
What percentage does you Project Manager receive?
Here in Norway you will not get paid for your house when it looks like that. The buyer can withhold money either to compensate for the mess or get someone to clean up.
The guy was desperate to sell as he said, about to go into bankruptcy
Oh man ! Great job!! I agree with FHA appraisal tho ! So good thing you worked it !!
Thanks
Hey mark love the videos great job would u recommend getting real estate license? I’d like to be able to flip consistently
Yes, if you are doing enough deals.
I'm curious to know if you work with an interior designer on your flips?
Not really, Nikki my project manager helps
Mark Ferguson - InvestFourMore Wow, she makes professional interior design choices!! I used to teach interior design to high school seniors!
Miss Elmyra- Come on!! You can look at every property & tell there's nobody consulting!! SMH. It's all about doing less & charging more!! Flips are shady. It's far from HGTV!!
@@TheRubinre HGTV is not the real world. Have you ever seen a new house and how it is built? The materials they use etc?
@@TheRubinre Thanks for YOUR opinion!
Do you buy new cabinets and kitchen appliances?
Yes
How much is kitchen appliances ?if you don’t mind!
I really love this house.
you should do this format more often
Just curious, I know this is off subject but what phone do you use to record? I am looking to get a new one but I don't like the price of the Galaxy S9, I was thinking maybe the S8.
Dillon galaxy s8
Are there radiators?
No forced air furnace
Wait so you didnt buy the house out of pocket?
Nope
Great job!
Wowza! Great work! Though I don’t agree with the carpeted stairs. The steps should have been tiled or made wood. And you could have backsplashed the kitchen. Come on man, don’t let the ball drop on the all important small details!
Don't need too. We had appraisals problems and it sold for less than contract price already. Adding more costs would be money down the drain.
I’m not an expert, you are... With that said, I still think you should cover the small details in your projects. If a kitchen is real small like the one you did with this house, then backsplash it. Humans are shallow creatures who love prettiness.
They see something pretty and goes gaga. I believe a house would sell faster if the small details are covered and make people’s eyes pop. I know that I for one are a very shallow creature, and if I was house shopping and saw your house I would have forgiven the no backsplash in the kitchen but those carpeted stairs would have been a deal breaker for sure.
Thank you sir
Have a GREAT Day &I'll be back
You are welcome
How did you put multiple videos in one?😊
I use video pad editor to create the video and then upload it all as one to RUclips
Mark Ferguson - InvestFourMore Thank you so much bro! 😊
Also, not being critical just want to know why flippers place kitchen cabinets that do not go up to the ceiling?
They are much more expensive.
Mark Ferguson - InvestFourMore I understand. Thanks for answering!! You rock Brother!!👍
do u have termite control as cost......
We don't really have termites here
What’s that flooring? LVP?
Yes
It looks awesome. I can never seem to find it cheap enough for a flip.
Do you pay taxes when selling?
Yes
So profit was 31,841, how much of that 31,841 went to uncle Sam at the end of the year?
he will use a 1031 exchange and buy another property so he doesnt have to pay any capital gains.
Can't 1031 a flip
Depends on all our other expenses, the deductions we get for having a corporation, and many factors. it is weird how we pay taxes on income just like any other job.....
@@investfourmore thanks mark, i just find it interesting that everyone who flips always talks about how much profit they make before taxes are paid which can be a huge hit when you are small and can effect that profit in a big way. Nice videos though!
It's a really nice house
Thanks!
Yes!
great house
Thanks
What kind of floors are those?
They are from home depot
Mark Ferguson - InvestFourMore Thanks Mark! Getting close to purchasing my first flip.
Yeah back down to eat tv some outside sleepover camping tv bottom top rest space keys lining extra sink in family family tv room on side wrap around into some rooms again
House is super nice though!!!
Thanks! most likely not probably some minor settling or weather stripping is off
You have great videos and information, I think if you vlogged day to day operations you'll get much more traction on your channel. Documenting the flip might help, that way you do Day 1- Kitchen remodel... ect. you can film it all at one time and just release them day by day ect.
Thanks! I don't have time to do a whole lot more videos, but that would be cool.
Looks great!!
Thank you
I would have swapped the range and fridge, it would have opened up the kitchen a lil' more taking out that wall. Over all the place looks nice ( i hate the split level design ) but....to each his ( her ) own :)
If the kitchen and bathrooms are better quality, wouldn’t it appraise higher and you can sell it for more money.
Nope,. Appraisers don't care