In this video, I am at a house that is about half way through the rehab process. I showed you this same house in a previous You Tube video when I first got the house back (after the tenants had moved out). You can check it out here: https://www.lexlevinrad.com/fix-flip-house-before-repairs/
Being that the market is so hot right now, and it’s a great time to be a seller (and not a great time to be a buyer) I am taking advantage of rental properties where the lease expires and the tenant moves out. Normally we would clean up the house, and get a new tenant, but in the market today, I see this as a prime opportunity to take some money off the table by fixing the property up really nicely and then listing on the MLS.
By fixing and flipping this house I am tapping into the feeding frenzy and shortage of homes that are available on the MLS. I am also able to get top dollar since there is very limited inventory competing with me (because there are so few listings on the MLS). This is the tightest inventory I have ever seen on the MLS in almost 20 years of investing in real estate. Like I said it’s a great time to be a seller and a terrible time to be a buyer (unless you buy right).
The house in this video is a wood frame house with stucco on the exterior. Some of the stucco needed to be repaired, so we had a stucco company come in to do that. I also needed to have an alarm system installed because the house was broken into multiple times (see the prior video that shows evidence of the break in).
Now we have had the kitchen cabinets delivered, the flooring is done, and we are working on the bathroom. We should be able to have this house close to being complete in around 3 to 4 weeks. The biggest hold up is getting the granite countertop and appliances (they are both on back order).
This house should be an easy list on the MLS at $195,000. Not bad considering I paid just $32,000 for this house 5 years ago. If you want to learn how to fix and flip houses like this make sure you attend: