Flipping Your First Deal | Ep. 1 Analyzing the Deal
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- Опубликовано: 5 дек 2017
- Christopher Gill, experienced house flipper, and serial entrepreneur takes you on the journey of flipping a house.
This in-depth and engaging series isn't your generic flipping show.
Ep. 1 is all about analyzing the deal. Follow Chris to learn how he analyzes this property and stay tuned for Ep. 2 - Creating a Killer Floor Plan!
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My first house, the lady that brought me the keys said 'so are you going to demolish it?'. I've doubled my money. 😊 First flip. I'm a 26 year old single female. Rebuild roof, subfloors, porches, plumbing, flooring, removed walls, new everything. The people who say its to big of a project or to just bulldoze it, they don't have the heart for it. Let them talk. You go ahead and do everything they said you couldn't. I had so many people tell me I couldn't or shouldn't do it.
Eternity Bliss do you have pictures!!
Is not about having the heart for it we are looking to make money and you could have probably triple your profits had you found the place that was quiet last renovation
Would you be willing to answer a few questions on the financial spectrum?
Did you hire a contractor to do the fixes?
Did you do most your self of hire help and professionals?
I like extreme examples like this because it shows you more about what's possible. REALLY looking forward to the rest of the series.
This is really interesting, but definitely a bit much for a first-time deal. I'm not saying it's impossible or can't be done, but if you're brand new it might be too advanced.
Totally agree! Probably better to ease in to these sorts of deals. My first rehab was around $20k; mostly cosmetic updates.
Not true.
I agree.
Im thinking about doing me my very own project i worked in construction with my dad since i was 13 im now 18 i think i might be ready in a few years ive been saving since i was 17 i think in a few more years ill be ready to buy and do my first project also i live with my parents so i save alot of money
@@christopherfgill should i get a fha loan for my first one?
This is a nightmare project.
Already LOVE this series! Cant wait for more Ep's!!
Now this series is something I can get into. Beautifully done. Not shotty with a lack of structure and audio like literally everything Dave Meyer has ever done
Glad you liked the video!
This will be a great great series I can’t want for the second
Chris this is fantastic. Looking forward to Ep. 2
You certainly have your work cut out for you here. I'm excited to see the outcome of this.
Can’t wait till the next episode!
I like this guy's videos a lot. More of him please!
This looks like it could be a really good series. Thanks.
awesome video!! Hope the series continues!
Yeah this definitely isn’t a house for beginners like me
I can’t wait for episode 2 ☺️👍
Looking forward to following it.
I look forward to Episode 2!!
Exciting!!!
Awesome idea for the series. Really enjoy the shorter videos with great content!
Thank you so much! Can't wait for the rest of the project.
BROOOO Im scared as hell for you with this house... But I'll keep watching lol
Hope it's a quality rehab, good luck!
Wow. I've done a few fixers now, some are bigger projects than others, but that one is falling apart! literally
Have to know 3 main numbers ARV and repair value those 2 numbers will determine the third and most important number..... the buy price. All the money is in the buy.
I love the concept, but wouldn't it be better to use a better house as your case study/example? Not many people would choose a home needing that amount of work as their first flip, nor should they. Why not use a more realistic house for a first time flip?
Brandon Bellino I agree, that is the only thing I don't like about BP. They make to much content towards deals with insane an amount of work like this or on crazy huge deals that 95% of there audience would never do.
This is not "analyzing" a deal. It was a quick walk through with no breakdown of cost estimating. Also, I cannot see paying 135k for that house in it's current condition in Texas which has a relatively low cost of living.
San santonio historic district is why it has good inherent value
The asking price was $299,000 I wonder how much he offered them for it 🤔 I think it sold for $320,000, after the renovation and 6 price reductions, that’s what the records show 😳😳
Yup....walks thru a house...talks about.can flip anything with time and money.
This project a different breed.
This house is SOOOOOO DOPE!
You guys did an amazing job
Thanks so much! Getting there slowly but surely :)
just tear it down and build a new house over it..lol
PumpChasers
Wheres Vince G at lol
Because the home is in a designated historic district it's almost impossible to tear down (even though it's in REALLY bad shape). Definitely something you should way the pros and cons of before starting to work in historic districts.
fuck man..lol i lstill ook forward to seeing how it come out
Swear I was thinking that too
What up Mr Jones!!
Music takes away from the video. Too loud
Add some proposal graphics and lower the background music volume, difficulty in concentrating...
I wouldn't have spent more than 13,500 on that project lol!
I live in San Antonio, any advice for this market?
Is there a video you guys have that just breaks down how to structure a deal? Like a template to use when pitching to investors?
Stay tuned... ;)
Where is ur hazmat suit???
What's the thing at 1:56 called?
under 3 months. dayum.
Are certain houses historic or is it more of whole neighborhoods that are historic? Is there a way to search if a property is in a historic district?
Depending on where you live the city will have a way of designating historic districts (whole areas that are historic), or specific houses that are historic. Check your tax role website, or local development services office.
We live In Wichita Kansas. I've heard of historic districts here but I wasn't sure of how to find out where they are or what areas. Would tax role website be the same as tax assessors website??BTW enjoyed the videoyou should do a post flip video.Thanks Chris!
Where do you get the money to cover the rehab
Do you buy from wholesalers???
Good luck with this project, this is my neighborhood.
Heck yeah! Transforming Diggy Hill one home at a time!
What did it sell for in the end? What was the profit margin?
It never sold according to Zillow.
Shower in a closet ??
How does that work ??
Asking for a friend
This is for an advanced home flipper. Once you start fuckin with the foundation, it’s better to leave that to a more experienced team
Where does the analysis come in ?
Do more vids like this
Chill with the techno music
sometimes its best to just walk away. LOL omg. the whole house is slanted... like a fun house eh? your foundation is done
Must be free labor in Texas. Because you are absolutely insane if think you are going to fix a home of that size with that much distress for only $100k
I was thinking the same. Why ? I lived in South of Dallas for 4 yrs I didn't see San Antonio as that type of market. It looks like he is either using a 70 or 75% rule. If he spends 250K and makes 100K then its a good depending how much of the profit goes to him off this deal
Amen to that! Let's see how close he actually gets, but I'd be amazed if he were able to do it for even double that.
Looks like a super stress headache with a lot of sleepless nights.
Gotta throw the whole damn house away.
135k guy u can by a livable home for 20k but head
Damn $135K…they couldn’t get the price down???
Maybe because of historic neighborhood.
What about the Texas climate change in the next decades though? Some predictions estimate Texas to have less water and more heat? Cincinnati has been getting more green December grass and less snow days in last 30 years.
Can't control the climate, but I know at least right now Texas is a great place to start a business, low overall taxes, and steadily growing population. All that hopefully equals a fantastic place for real estate investing!
I'm getting into flipping. This house is a disaster, you even mention foundation IM OUT ✌️ unless they sold it for 10 thousand
$100K for rehab really? That must be a your starting price!
Was this a bank repo? Looks like you picked it up for 5 bucks
Oh nice you broke down the price and what you will invest into it
That house looks like a 'knocker downer' not a 'fixer upper'
Something tells me this ain’t his first rodeo!! He must be rich already to throw out those big numbers... and all in three months!
So there isn't any confusion; this definitely isn't my first rehab. If you want to learn a little more about how I got started in real estate check this video out: ruclips.net/video/ObHJdVgn2Z0/видео.html
Thanks for sharing that! Super cool that you’re young like me and you’re killing it bro! Much continued success! Guess I’m still in the learning stages!
This is a beauty of a fixer upper!
We deal with houses in this condition on a daily!
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Interesting...
16% annualized? Sounds pretty good.
Sweet.
I doubt he paid 135 k for that house! He really probably paid 20 k is extremely damaged and in San Antonio 135 k for 1800 is over priced 😊
Dude you lost me at "shiplap is a type of sheetrock" seriously? How do you make money?
Brassmonke X He’s just saying it’s a wall covering for people that don’t know what shiplap is.
Wow. Wear do you start to swing the hammer lol...a project....hope it cost 10000 .
Think I would have burned it...
Hello I am new to this whole real estate I have no experience at all. I don't know where or how to start. I just need some one to help and show me how to do this. I work part time, where do I get the money from to get start. I need help I live in illinois. If there's anybody out their that is willing to help or mentor me I do appreciate it so much. Thank you all and have a bless day
Hey K! One of the hardest parts about getting started in flipping is getting some funds to start with. If you own a personal home right now you can look into getting a home equity line of credit. This is basically a loan against the equity in your home. This is what I did to start my flipping business!
Don't underestimate talking with family and friends either! It may make sense to partner up on your first few houses with someone who may have a little extra capital. Work on learning as much as possible and put together a business plan you can show people!
Good luck to you with getting started in real estate! It is a super fun and rewarding career!
Definitely not a deal for a beginner, you really need to know your shit before you jump into such massive project.
Man I wish I had a dime for every house-flipping wannabee scam artist on RUclips trying to profit by going after the fatal combination of stupidity and greed.
Love watching this flip videos and 🙈all I am noticing is your beautiful eyes🙈🙈😂😂🥰🥰
Wow....135k for a house in that condition?? And you're actually willing to pay that? That's not good investor efficiency.... Lol
I bet he lost his ass on this deal.
Waaaay too much required for this flip. Should've passed on this one.
The background music is sooo unnecessary and distracting :(
Waist of time and money. Nothing left of the character...
Just burn it
hes high off of pot too smh
That for 135k, my boi you got scammed
i wouldnt have paid more than 35K for that home. historic area or not.. you got stiffed
Math don't add up guess you going in the bankruptcy Chapter 7 no assets
I seen worst then that
Pos
A waist of time and money!!
Learn to do most explanation with least talk
Why would you buy this dump lol
hes lieing to u guys