What a difference you made! A really nice property too! You did the place proud and folks have got a lovely home. The neighbours must be pleased, too! Respect! XXX
Love your honesty, I'm not a real estate investor or flipper, but looking to buy my first house with my wife as a private residence. So helpful, thanks Mark!
Really love the before and afters in one video. Really interested in seeing the numbers at the end. I am not gonna do flipping soon, but I am buying my first rental in a week. I am now 19yo started with my real estate agent career one day after school. Already had a scholarship to study law, but instead of working for money I want my money to work for me!
That grey looks light mint green. That’s the problem with grey it can have a blue, green, purple tint to it & sometimes it’s hard to tell unless you’re comparing samples.
I absolutely love the yellow! For some reason, on this particular house oh, that is just the perfect color! Maybe it's because the weather is kind of depressing. But like I said it's beautiful! :-)
Congratulations on selling your happy house finally. I'm in the process of buying a foreclosure property and I am learning all this new. Thank you for your advice.
Completely understand the contractor frustration. In management of properties that is my most difficult challenge. I have gone through a few….At the moment I have two really good ones that do what they say they’re going to do and they finish on schedule 👏 …..
Love the house! Y’all did a jam up good renovation job! So clean! I imagine beautiful flower beds and shrubs in the yard and I think the train adds to the charm!
Thank You. Appreciate your honesty and showing the 'not so great' flips. Maybe some peace & gratitude for you that you provided a nice house for someone to live in? I'm a newbie to this subject & learning a lot from you.
Omg thank you so much for these videos!!! They have helped tremendously with estimating repairs I even find myself guessing the repairs before you say it and its spot on! I'm getting better at this lol.
FOR ALL SELLERS!!!!! Please listen to what he says at the 18:55 mark. Using the “highest and best offer” jargon really does scare away potential buyers. Switch up the verbiage a bit and you’ll be fine. Don’t make the conditions seem as if you’re money hungry.
Certainly understand the contractor frustration. I had to go through quite a few to finally get two good ones that do what they say they’re going to do and finish on time.
You did make a profit albeit a small one but the bigger picture is that you took a horrible, rundown property and made something nice for a nice family to have.
I feel your pain. I bought my first flip like 5 months ago and still not done with it. Foundation, plumbing, electrical, everything complete gut. In the middle of it and still won’t make money on it I believe. Learning a lot though!
I just can't believe that someone was living in that house in the condition that it was in. I also can't believe that houses are so expensive in Colorado. If you had bought that house in my neck of the woods (Opelousas, Louisiana), you probably would have paid it 30 to 40 thousand for it
If I was buying in your area, I would just buy your properties or flips , great to have someone doing all the work and me buying to rent or use for myself, your buyer just had a windfall a new/totally redone older house , move-in , no headaches...lol
The yellow is nice. Kinda reminds me of my house when I bought it as far as the foundation is concerned. Our house is a pier and beam house and there was absolutely zero support in the living room. That was 25 years ago. We’ve since added 1000sq ft onto our house.
AMAZING! I can't believe it is the same house. Of Course it isn't! I know it's about making money but saving a 100 year old property is pretty fantastic. Colors are perfect. Very happy little house now sort of that French country feel.
I like your videos, you tell it like it is...the good, the bad and the ugly. Which this house only had the bad and the ugly, not much good. I really like your videos that why I subscribed a while back, keep up the good work!
Thanks for sharing this type of experience too. A real 'learning experience' I guess, great that it did not end up a loss. Many of Colorado houses without basements?
Mineral rights?.. if you buy the house and land and sell it once you sell that land shouldn’t the owner own the minerals? I am not some owner but 1-how do you know if there are minerals on the land, 2- do these rights cost more when buying your house & land?
Mark, do you encounter squatter situations, even though you are in middle-income price areas? I was just wondering if this was that kind of situation especially with the electrical wiring. How often do you really buy sight unseen?
Nice recovery. Was that stucco over some older siding i saw? Did you tear it all out before putting the new sheet siding? Ive never had that siding before is it the best way to go for that area?
I think most of your viewers would agree, very few of us being charged less than 7k, most in my area pay 7k to 15k for an honest roofer, you can call Sears or one of the high pressure sales guys and they will ask 15k and up.
I love your idea of dealing with contingencies on the buyer's house selling. I'm not sure how one would market a property while its still under contract, as you cant keep it active in the MLS if you're a realtor as its against the code of ethics, even if all parties agree to it. I could see how it can be done with a private party
Have you considered going to a local trade school and hiring people right after graduation? Then they don't have bad habits and only work for you and you can be the GC.
I understand the want of saving money on a flip, especially one where you bit the bullet hard, but that huge blank wall with one off-set window in the front looks super awkward, would it have truly cost that much more to add another window to that front bedroom and even that out? Also, the siding. That crappy particle board siding is gonna rot within 5 years time, I’d have gone with vinyl at the least. Otherwise, the renovated floor plan is WORLDS better, you’ve breathed new life into this old home, and overall, I say excellent work. 4 out of 5 stars in my book.
Seems they have a good housing market in Colorado ! It’s the yellow paint !! But even so, so many problems ! Now doe houses sell better if they are staged ? I had buyer back out !! Meantime we got a chance of house we. wanted, so after all that work making house nice inside and out ! Ended up my daughter is renting my 4 bedroom house , we staged her condo , took photos etc. she moved in to my house ! We left photos in each room and it sold right away ! I was rushed into my new house ! But that was over 12 years ago ! And I still haven’t found some things !!!
Buying this house , and other Agents did no work ! We found the houses on our own !! Selling a previous. Home in GA we sold it to a niece of my Avon lady !! But Agent again got fixed commission ! You. Will hate me but I don’t think it’s fair that agents get a fixed percentage !! They nearly all show listings on their site, and you look through it and then tell them if any interest you ..... none of my agents had to bust their butts ! But were nice people .... still I did resent them getting fixed commission ......
I feel like in some cases - like this one - you might have made more money just demolishing everything and building a brand new house on site, lol. But hindsight is 20/20.
Why use hard money on so many flips if you have the money to 100% self- finance on fewer flips? I would think that the interest, time, hassle savings would be worth it to self-finance fewer deals. Especially if the market turns, in hard money situation you could get caught in negative equity and have to bring money to close, or payoff lenders after close, on a deal like this (if financing repairs). Is the extra income from leverage really worth it? Sorry, but honest question.
Yes, I can do 3 times as many properties. I make $30k on each flip and would make 35k to 40k if I did not finance. So I would be saving $5k to $10k on financing costs and costing myself $60,000 in profit on two more deals. I did not use hard money on this one.
Colors are so dangerous. Color everything to attract as many people as possible and make sure you don't scare people. Yellow outside will scare many people. Should have done white, gray or baby blue. Interior should be 9010 white all walls. A light warm grey for cabinets and trim. Done.
I'd run from a baby blue house, but would love a yellow house. Interior I hate grey on anything unless it is tinted warm. Wals inside pale tinted off white, creamy vs stark white.
@@investfourmore Thanks for replying.. could you elaborate a bit? What disqualifies a home from FHA and conventional consideration? If neither of these are an option, and I imagine VA isn't either, is it simply a cash transaction?
Homes have mineral rights separate from the house in Colorado. They automatically fo with the house if nothing is said about them, but you can exclude the or sell them if you want.
Is there a methodology that you use for picking paint colors? I’ve noticed in several of your videos that you are choosing pastels rather than neutrals (beige, grey). Also, is there a reason why you choose to extend the wall paint to the ceilings rather than paint them white?
please be kind that little kitten is starving you can hear it in her cries. please buy her some food. and give her water. you seem like a nice man so please be kind to this little kitty
Mark Ferguson - InvestFourMore ... I appreciate your work concept behind your renovations. But I’m not familiar the Denver climat so maybe ceiling fan lamps is the thing!
What a difference you made! A really nice property too! You did the place proud and folks have got a lovely home. The neighbours must be pleased, too! Respect! XXX
I love this video and how honest and transparent you are. This is 100% REAL! I subbed and look forward to watching your vids.
Chris E. Thanks!
Love your honesty, I'm not a real estate investor or flipper, but looking to buy my first house with my wife as a private residence. So helpful, thanks Mark!
You are welcome!
Really love the before and afters in one video. Really interested in seeing the numbers at the end. I am not gonna do flipping soon, but I am buying my first rental in a week. I am now 19yo started with my real estate agent career one day after school. Already had a scholarship to study law, but instead of working for money I want my money to work for me!
Congrats! and thank you
Most honest house flipper on youtube. Good luck, Mark!!!!
Thanks
That grey looks light mint green. That’s the problem with grey it can have a blue, green, purple tint to it & sometimes it’s hard to tell unless you’re comparing samples.
I absolutely love the yellow! For some reason, on this particular house oh, that is just the perfect color! Maybe it's because the weather is kind of depressing. But like I said it's beautiful! :-)
Congratulations on selling your happy house finally. I'm in the process of buying a foreclosure property and I am learning all this new. Thank you for your advice.
Good luck with it!
The yellow house is beautiful. Very inspiring.
Thanks!
Completely understand the contractor frustration. In management of properties that is my most difficult challenge. I have gone through a few….At the moment I have two really good ones that do what they say they’re going to do and they finish on schedule 👏 …..
Great to show the bad deals as well, makes you authentic and real. We all can get the feeling of flipping.
We learn so much from videos like this, thanks for posting Mark!!
You are welcome!
You basically built a house. I like how you changed the interior to add another bedroom.
Thank you
Love the house! Y’all did a jam up good renovation job! So clean! I imagine beautiful flower beds and shrubs in the yard and I think the train adds to the charm!
WOW ! Cannot believe how many offers !!
Thank You. Appreciate your honesty and showing the 'not so great' flips. Maybe some peace & gratitude for you that you provided a nice house for someone to live in? I'm a newbie to this subject & learning a lot from you.
Thanks!
Great flip Mark Ferguson! And great news about kitty too!!❤️❤️
Thank you!
Omg thank you so much for these videos!!! They have helped tremendously with estimating repairs I even find myself guessing the repairs before you say it and its spot on! I'm getting better at this lol.
Good to hear!
Seeing that poor abandoned skinny kitty broke my heart. :(
People do not deserve animals.
FOR ALL SELLERS!!!!! Please listen to what he says at the 18:55 mark. Using the “highest and best offer” jargon really does scare away potential buyers. Switch up the verbiage a bit and you’ll be fine. Don’t make the conditions seem as if you’re money hungry.
true
You did accomplish improving the neighborhood and removing a derelict house from the neighborhood.
Certainly understand the contractor frustration. I had to go through quite a few to finally get two good ones that do what they say they’re going to do and finish on time.
Good point on the escalation clause lol Thanks for sharing both the good and bad deals!
You bet!
You did make a profit albeit a small one but the bigger picture is that you took a horrible, rundown property and made something nice for a nice family to have.
Nice job. Love the interior wall colour, but ceilings should be white and in flat paint. Makes them look higher :)
Another issue with that contractor is he did not like to listen to what we wanted.
Aww man, yu are such a solid dude!!!! And I absolutely love the yellow house!! Fine n happy choice 😊
Thank you!
I like the before and after videos together. Good choice
Nice
the kittens were the best thing in that place... looked like a battle zone.. and it's like a miracle now heheh nice
I feel your pain. I bought my first flip like 5 months ago and still not done with it. Foundation, plumbing, electrical, everything complete gut. In the middle of it and still won’t make money on it I believe. Learning a lot though!
That is no fun, good learning experience though
I just can't believe that someone was living in that house in the condition that it was in. I also can't believe that houses are so expensive in Colorado. If you had bought that house in my neck of the woods (Opelousas, Louisiana), you probably would have paid it 30 to 40 thousand for it
If I was buying in your area, I would just buy your properties or flips , great to have someone doing all the work and me buying to rent or use for myself, your buyer just had a windfall a new/totally redone older house , move-in , no headaches...lol
The yellow is nice. Kinda reminds me of my house when I bought it as far as the foundation is concerned. Our house is a pier and beam house and there was absolutely zero support in the living room. That was 25 years ago. We’ve since added 1000sq ft onto our house.
Garden Novice Farm thank you and nice work
Love it Mark, you're adding real value and we really appreciate you keeping up with the videos!!
Frank Eimiller thanks Frank!
AMAZING! I can't believe it is the same house. Of Course it isn't! I know it's about making money but saving a 100 year old property is pretty fantastic. Colors are perfect. Very happy little house now sort of that French country feel.
Thank you
I like your videos, you tell it like it is...the good, the bad and the ugly. Which this house only had the bad and the ugly, not much good. I really like your videos that why I subscribed a while back, keep up the good work!
thanks!
Thanks for showing the numbers. I am learning so much from watching your videos!
You are welcome!
That turned out cute!!!!! I really like your color choices, inside and out.
Thank you
What a tough one! Now the next 10 will seem like a piece of cake. Great play by play. thx!
Jeremy Keefer hopefully! Thank you.
Hate the paint color, but I LOVE the changes made. So much better design - functional. I love the sewing room in the utility room. ;)
Poor kitty is hungry. Why do people move and just leave their pets behind?
I should have mentioned that is now Nikki's cat and it is not hungry anymore
Mark Ferguson - InvestFourMore awwww!!! I love a happy ending!! Nikki, you are the best!!
Mark Ferguson - InvestFourMore Aww, bless her heart!
Jean Fields
I would've cooked it and ate the cat since I'm hungry
Jordan That’s ridiculous!!
Everyone knows stray cats don’t have any meat on them. 🤪
Thanks for sharing this type of experience too. A real 'learning experience' I guess, great that it did not end up a loss. Many of Colorado houses without basements?
Most have basements
Time to withhold payment from said contractors until house is done
Great flip! I adore the yellow.....in Miami😬
Thank you for all the valuable info!
Hated the yellow color at first but by the end of the video I liked it. Good choice!
Thank you
How much do you typically sell the mineral rights for? How is that usually allocated?
All depends on the area and what minerals there are. Could be as high as 20k an acre or nothing.
at least you're honest about it. I will give you that
Some people just does not take pride and their work!!! Because if I was your contractor, I rather tell you, then you find out later on.
Mineral rights?.. if you buy the house and land and sell it once you sell that land shouldn’t the owner own the minerals? I am not some owner but 1-how do you know if there are minerals on the land, 2- do these rights cost more when buying your house & land?
They can be sold separately. Yes they can make the property worth more. You have to do a deed search for minerals
4% return, wow you're a genius. Buying at the peak good luck with that.
They aren't all winners. Yes I buy all the time and this was a couple years ago.
I don't see the train tracks as a downer. I see them as a novelty.😄
great content man! I just watched like 5 back to back lol I'm a new real estate investor in the Seattle / Tacoma market
Nice! glad you enjoy them
love your videos! Super fun to see the ins and outs.
thanks1
The finished product looks great. Thank you for sharing the highs and lows of buying and selling real estate.
cheecheedivine thank you!
What a huge difference
Mark, do you encounter squatter situations, even though you are in middle-income price areas? I was just wondering if this was that kind of situation especially with the electrical wiring. How often do you really buy sight unseen?
Very rarely
Nice recovery. Was that stucco over some older siding i saw? Did you tear it all out before putting the new sheet siding? Ive never had that siding before is it the best way to go for that area?
It was stucco before. I believe they pulled off the old stucco. Stucco is fine here if it is in good shape.
Will you do any more sight unseen deals?
Im sorry this one went bad for you. You deserve more then 4k for the work you did! Hope the next is better!
Yes, I have bought many site unseens and it averages out in the end
Loving the content! Do you see any value in doing garden redesigns and fencing work?
Depends on the house and the cost. As well as the time of year
I have to ask.. What did you do with the cats?
Jennifer Ratcliffe nikki took the tame one.
Mark Ferguson - InvestFourMore awww! That's so sweet!
nice reno, it would be cool to see some of the contractor work during the in progress part of flip. also when is the primary residence tour coming
Trent T the contractors don't enjoy it very much when I film them.
What are mineral rights? Did you say you sold them?
you made this horrible house into a lovely place the bright yellow on the outside is a definate no! but it is amazing it turned out
What is the interior paint color you used? Great house flip too!
Not sure
wait....why did you sell the mineral rights? Holy Cow! On a residential?
Thank you for sharing this experience! So important!
You are welcome!
The house looks amazing
Thank you very much for your honesty!!!
Always!
Great work so satisfying
Thank you! 😊
Wow you had a hell of a time with this one!
Yes, glad to be done with it!
I'd like to ask who is the lender you don't like, but maybe it'd be better to ask which lenders do you like?
investfourmore.com/real-estate-investment-lenders-funding-resources/
I saw your numbers $4,500 for roof very good price around me 12k - 30k, tax for almost a year 5-10k
For a roof?
I think most of your viewers would agree, very few of us being charged less than 7k, most in my area pay 7k to 15k for an honest roofer, you can call Sears or one of the high pressure sales guys and they will ask 15k and up.
I love your idea of dealing with contingencies on the buyer's house selling. I'm not sure how one would market a property while its still under contract, as you cant keep it active in the MLS if you're a realtor as its against the code of ethics, even if all parties agree to it. I could see how it can be done with a private party
you can list a property as first right in the mls which means a contingency is in place.
Mark Ferguson - InvestFourMore oh that's very smart. I don't think our MLS in Tampa has that as a status option. Thank you for the insight
Have you considered going to a local trade school and hiring people right after graduation? Then they don't have bad habits and only work for you and you can be the GC.
I have thought about trying to hire people straight out of school. I have not looked for any local trade schools though.
I knew that fly was fake and, at the very same moment, it still shocked me. 😏
I understand the want of saving money on a flip, especially one where you bit the bullet hard, but that huge blank wall with one off-set window in the front looks super awkward, would it have truly cost that much more to add another window to that front bedroom and even that out? Also, the siding. That crappy particle board siding is gonna rot within 5 years time, I’d have gone with vinyl at the least. Otherwise, the renovated floor plan is WORLDS better, you’ve breathed new life into this old home, and overall, I say excellent work. 4 out of 5 stars in my book.
I hate vinyl. It cracks and breaks after a few years as well especially here with hail we get
Mark Ferguson - InvestFourMore that’s true, I forget you’re in Colorado.
@@investfourmore I live in KS. What is the best siding for a house - not a flip but my home?
He only made 4K got to save cost I would of been crying lol
Seems they have a good housing market in Colorado !
It’s the yellow paint !! But even so, so many problems !
Now doe houses sell better if they are staged ? I had buyer back out !!
Meantime we got a chance of house we. wanted, so after all that work making house nice inside and out ! Ended up my daughter is renting my 4 bedroom house , we staged her condo , took photos etc. she moved in to my house ! We left photos in each room and it sold right away ! I was rushed into my new house ! But that was over 12 years ago !
And I still haven’t found some things !!!
Buying this house , and other Agents did no work ! We found the houses on our own !!
Selling a previous. Home in GA we sold it to a niece of my Avon lady !! But Agent again got fixed commission ! You. Will hate me but I don’t think it’s fair that agents get a fixed percentage !! They nearly all show listings on their site, and you look through it and then tell them if any interest you ..... none of my agents had to bust their butts ! But were nice people .... still I did resent them getting fixed commission ......
Are mineral rights a big deal in your state?
Yes, worth from $5,000 to $15,000 an acre here. Varies by county though
@@investfourmore Wow! Id be sitting on a gold mine right now if that were the case in Wisconsin!
This, this is why i subscribed. You are fucking amazing
Thanks!
Wow! Great job. but not crazy about the yellow lol
Right?!
Wow so they just built the house on the ground? Wouldn't that violate codes?
Now it would, but it was an old house
I feel like in some cases - like this one - you might have made more money just demolishing everything and building a brand new house on site, lol. But hindsight is 20/20.
We definitely did not know how bad it was
Ouch that’s a huge hit. Unfortunately a replacement home wouldn’t have fit there very well. 👍👍
Mike's Channel we still made money. My first contractor wanted me to tear it down and put a modular up. That would have cost much more money.
Are those walls blue? Or is that just a shadow
a little blue
How much would it cost to build the house from scratch?
Hard to say. $150,000
ACtually more if you are talking about foundation too
You should of had a priest go with you to check out that house lol !
lol
Why use hard money on so many flips if you have the money to 100% self- finance on fewer flips? I would think that the interest, time, hassle savings would be worth it to self-finance fewer deals. Especially if the market turns, in hard money situation you could get caught in negative equity and have to bring money to close, or payoff lenders after close, on a deal like this (if financing repairs). Is the extra income from leverage really worth it? Sorry, but honest question.
Yes, I can do 3 times as many properties. I make $30k on each flip and would make 35k to 40k if I did not finance. So I would be saving $5k to $10k on financing costs and costing myself $60,000 in profit on two more deals. I did not use hard money on this one.
Colors are so dangerous. Color everything to attract as many people as possible and make sure you don't scare people. Yellow outside will scare many people. Should have done white, gray or baby blue. Interior should be 9010 white all walls. A light warm grey for cabinets and trim. Done.
I'd run from a baby blue house, but would love a yellow house. Interior I hate grey on anything unless it is tinted warm. Wals inside pale tinted off white, creamy vs stark white.
Great job, and learning experience😢
I can't seem to find the info anywhere, can someone tell me why he was excited to see it wasn't eligible for FHA or conventional?
Because it means it needs work and could be a great deal
@@investfourmore Thanks for replying.. could you elaborate a bit? What disqualifies a home from FHA and conventional consideration? If neither of these are an option, and I imagine VA isn't either, is it simply a cash transaction?
Hey mark why didn’t u just sell it like it was and just get ur money back or maybe $5k-10k and walk away?
I should have
Where did you put the furnace in the attic lol
You did an awesome job on the house
Yup!
Patricia Chavira thank you
You said something about mineral rights. Please elaborate.
Homes have mineral rights separate from the house in Colorado. They automatically fo with the house if nothing is said about them, but you can exclude the or sell them if you want.
I know you probably want to keep your contractors accountable, but why not take care of those small things at the end if it holds you up for so long?
Because I have 15 projects at once and if they don't have to fix them they won't ever do it
If you make $30k that super duper good especially if you roll that profit into another investment property!!!
Did u save the cats?
Is there a methodology that you use for picking paint colors? I’ve noticed in several of your videos that you are choosing pastels rather than neutrals (beige, grey). Also, is there a reason why you choose to extend the wall paint to the ceilings rather than paint them white?
it is pretty random lol
How much do I need to invest with you
I don't really work with investors except on a private money basis and I honestly don't need more private money right now.
how do you see this as a really good deal, i'm lost.
That was sarcasmm
please be kind that little kitten is starving you can hear it in her cries. please buy her some food. and give her water. you seem like a nice man so please be kind to this little kitty
Nikki adopted him
I don’t know when this was filmed but the light fixtures, color choices and kitchen gives me 80s and 90’s. Are you targeting older buyers?
Hmm, I have seen many houses from the 80s and 90s and don't get that feeling at all
Mark Ferguson - InvestFourMore ... I appreciate your work concept behind your renovations. But I’m not familiar the Denver climat so maybe ceiling fan lamps is the thing!
There is also a difference between a higher end property and a starter property. The house also did not have AC so the fans were functional.
Mark Ferguson - InvestFourMore. I get it and its kind of liberating watching house-flips that are not over designed.
All the luck to you!
Hello..Why flip when you can rent?
investfourmore.com/2013/04/19/is-it-better-to-fix-and-flip-houses-or-buy-and-hold-rentals/