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In this video I am showing you a house after it has been repaired and before it is listed on the MLS.
If you want to see what the house looked like when I purchased it (before the repairs) then watch this video on my You Tube Channel
The seller of this house was a motivated seller who wanted to sell the house and they were moving into an assisted living facility. The way I found this house is from one of my students who got the house under contract. It was actually listed on Realtor.com but because it was listed on an out of town MLS (Orlando) it never showed up on our local MLS. This is one of the reasons I always tell my students to search on Realtor.com (you can find hidden deals like this occasionally).
My students Chad and Sharalyn wholesaled this house to me (for a fee of $5,000). If you want to make quick money wholesaling, then find cash buyers in your market and find out what their purchasing criteria are. My students that wholesaled this house to me had just closed on two other houses that they were rehabbing.
They did not want to deal with a third rehab. It was a win for them and a win for me. I am sure in hindsight that they wished they rehabbed this house too. But you need to remember in real estate that you can’t keep every house you get under contract and you can’t rehab every house either. You need to wholesale/flip some properties for cash flow.
The negotiation on the purchase of this house took quite a few months. It took a few months for them to come to an agreement and then a few more months to close. I thought this was a dead deal multiple times and initially the seller did not want to sign and we marked the deal as dead. A few months later, they agreed to sell the house and the contract was revived.
The house was a mess when I purchased it. watch this video on my You Tube Channel to see what the house looked like when I purchased it (before the repairs)
And then after you have watched that, watch the video above to see what the house looked like after my crew had finished repairing it.
This is the walk through that I did before it was listed on the MLS. This is the last step that I do before I call the Video Photography company (VHT) to come out and take the photos of the property (I use the photos on the MLS Listing).
This house was purchased for $120,000 and the repairs came in at just under $25,000. After repairing the house, it was listed on the MLS for $209,900. There were 5 or 6 showings within 24 hours and the house was under contract in just 2 days! Many people are surprised when I tell them that our houses sell so quickly. The key is to fix them up nicely and to price them at the right price.
My goal with fix and flips is to fix them as quickly as possible and to sell them as quickly as possible since I am paying interest on the money that I borrowed to purchase the house. Our typical turn around time is around 4 to 5 months from the date of acquisition to the date of closing on the sale of the house.
The materials that we used are our standard brown theme that we use in 50% of our rehabs (we use grey in the other 50%). You can download a list of the materials that we use along with the SKU numbers by clicking here
If you want to learn how to fix and flip houses like this then you should think about attending my Fixing and Flipping Houses Boot Camp.
You can register for a free training webinar on fixing and flipping houses by clicking here