Horrible Fix and Flip After the Remodel Video Tour
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- čas přidán 1. 11. 2017
- I bought this flip at the foreclosure sale for $134,000 without seeing the interior of it. My project manager Nikki had seen it a few months prior when it was for sale with a wholesaler. We were able to get the previous occupant out of the home and it was trashed on the inside. You can see the before video here: • Horrible Fix and Flip ...
We spent about $40,000 on the rehab which included a new bath, kitchen, roof, paint, flooring, HVAC, and many little repairs. We will be listing the property for $224,900 in a day or two. This house sold for more than full price.
I would have taken the weird wall in the kitchen /dinning out to make the space bigger and put a stacked w/d by the back door .
Amanda H that’s a great idea. I was wondering why they didn’t take out that little wall.
Molly K i said the same thing. It’s such a useless wall
was thinking the same thing
It's probably load bearing somehow. . That my only explanation of why it's still there.
@@Badenhawk I thought that too, but that i looked at it and its only like 6 ft long, Load bearing walls normall go completely through the house from one side to the other, and this house is really to small to have any load bearing walls that arent the exteriors.
Whoever designed that house, as in the architecture and layout, did a terrible job! Looks amazing compared to before tho!!
Thank you, yes the floor plan leaves a lot to be desired.
I like the basement in the bedroom tho. Kinda like a secret lair
Very weird layout!
I would have dug an entry in the backyard for an access door to the basement where there basement window exists & get rid of that door in the bedroom. I probably would have also changed the dining nook window into a sliding glass door for back of house entry. Gotten rid of the back door in the kitchen & put the washer/dryer there. Shorten the length of the kitchen counter for W/D area. Where you put the new W/D outlet, I would have put more counter space with above cabinets...maybe a desk/counter. These are just my choices/preferences. Yours are just as good. Great job!
Thank you, we have to balance the cost versus the benefit on these and it makes it tough! I would love to do all those things, but usually does not pay off to make big changes in the end.
$30K was a steal for all that renovation! It cost me $8k to just have my bathroom modernized.
It takes a lot of work to remodel affordably
Well, that's what flippers do, I guess-- completely ignore the major problems with the structure and layout of the place. Too many to list.
If you redo the floorplan, it would add tens of thousands to the cost to repair and not be worth as much as the repairs cost. This is a business.
Wrong. Smart flippers make sure they only buy houses with good bones. The floorplan MUST be right, because structural work is too expensive and time consuming.
Deb Swan Well Deb, tell that to Marks bank account because it just got about $40,000 larger! You may think the layout is stupid but someone WILL buy this house. That’s a fact! Nice job Mark, keep rolling brother! I’m jealous
Bathroom is amazing but I️ hate a bathroom right off from the living room.
yes, not an ideal floor plan
There was a house I was looking at to rent from that had the absolute weirdest half bathroom. I'm not sure if the second floor was converted from an attic into a living space or if the second floor was added but when you first walk in the house the staircase is right there and if you look up the staircase you can see the toilet.
The whole second floor is just one big open floor with no rooms or dividers. There is a door for privacy from the down stairs but no privacy from other people also on the second floor. There is also a huge window right next to the toilet with no blinds or shades over it. I think I have a picture of it saved if anyone is interested.
I know, makes for an uncomfortable situation if you have guests over...especially if you're serving bean dip and beer😜
It was really cool seeing the before and after renovation. Thanks for the video Mark!
The first thing I would do is take out the weird wall in the kitchen. No need for that. But you did a great job on the whole house.
nancy charlotte he's not an amazing remodeler alright not everybody is perfect but yes you spend the most time in the kitchen so why cut it off with a wall from the rest of the house? Open concept is key your kitchen should be part of the house not cut off you want it all open and spacious
Good work, Mark - excellent choice in colors and materials - neutral and appealing
Thank you
Bathroom turned out well, colors and tile, mirror very nice looking.
You did a great cleanup. However I think you could have gotten rid of that weird wall in the kitchen shorten the counter where the fridge goes, and put the hookups for a stackable by the fridge. IMO 😊
That's an insane amount of money for that property.
Colorado
Be same price where i am
Did a great job sir! I guess location is everything, in Missouri for 249k you could probably buy a ranch with live stock and spring fed ponds lol
Yup
sounds dreamy
Gidgy Gold-how did they ruin it? honest question seems like an interesting topic.
In sf probably a portable toilet for 249k
Hell yeah.
An improvement over what it looked like before is an understatement ... BUT
Yay it’s nice to see after pics. Beautiful
thank you
Wow! Looks great! I saw the pre rehab video and this is amazing!!
Thank you
Amazing difference !! Beautiful!!
Thank you
Just watched the before video... I must say, you did a great job.. ❤️ very nice
Thank you
Wow that's an amazing transformation!!
Thank you
Do people really not realize that prices vary ALOT depending on location? You can buy a nice house in texas for 225k, but try getting one in california or new york.. especially a nicer area
Yup
What a difference! It looks great.
Thanks!
Great job. Very nice work.
Thank you
definitely would have redesigned the entrance into the basement. god that is weird and sorta creepy lol
1: You are an exceptionally brave man. 2: You obviously know your values 3: I find it very hard to believe you got that all done for $30K
We were slightly over $30,000 but I have worked very hard to find affordable contractors and subs
pneumatic00 here in Minneapolis these greedy ass contractors would,ent paint a house for 30k or I should honestly say if they painted the inside and outside they would charge you about 10k so you got 20k left another 10k for roof so you got 10k left furnace and ac and water heater your now broke that did not cover dry wall carpet new bathroom.landscaping flooring trash re novel maybe the only way is via illegal alien labor that way it could be done.
guy azbell illegal aliens are the workforce of this country honey
What a Great improvement. I would have removed that divider kitchen wall. In West MI, that would have sold for $50k foreclosure and $90-100k rehab basically due to the lot. $250k can build a 3500-4K sq ft 4 bedroom 3 bath move-in ready home here. And I thought that to be much.
This guy tried his best to remodel this house and greatly managed to buy a racoon nest and turned it up into a decent human being living place, the external walls paint color is catchy, the bathroom walls color and decorative vertical are all nice, I see the overall space of house is the reason that its price is high relative to the awkward main structure structure
That house looks waaay better than before, good stuff man
Thank you!
Amazing!
I read lot's of comments about the price you paid. It is very relative to location. This size house would sell for 600k in Silicon Valley. My parents house in Malibu CA. (1964 1975sqft) mid size lot is wroth about 850K (ocean view) due to not much being remodeled. If you find these little jems for a good price lots of money can still be made rehabbing and selling. Mark nice job on the rehab!
Exactly.
I really like the window nooks
Awesome job!!
Thank you
You guys did an amazing job!☆☆☆☆☆
Thank you!
beautiful job!
Thank you!
just saw this video and i went to check out this house on redfin. It is actually under contract again, and the current owner did pretty amazing work after bought it back in 2017. Look like an amazing property.
smart flip bro. clean new bath and kitchen, new floors, paint. i hope you made a buttload of money on that. very good eye for spotting a value
thank you!
We just bought our first house in NJ to flip and closing in 3 weeks. We already have a rental but want to dive into flipping. A couple questions you don't mind...
- Do you always do carpet in bedrooms?
- Do you ever put in a shower door or curtain for the tub?
- For dining rooms, do you suggest fan or chandelier?
This isn't a big house. 3 bed / 1 bath ranch in middle class neighborhood.
Usually, put carpet in bedrooms, but this can be market specific. If there is already hardwood there we leave it.
No, we do not as it hides the work we did on the bathroom
A chandelier.
Thanks, looking forward to doing this one. The videos have helped with ideas.
Another great job, but how much to pour a small patch of concrete to replace the thing that looks like a pallet and paint the basement side of entrance door. Wow, too bad w/d wouldn’t fit into that area by the backdoor.
House look great you did good job ..
thanks!
I know it would have cost more but I would have put the W/D over at the end of the counter and moved the door over to the nook and used a slider, then you would have the wash area out of traffic and could have put shelves on the wall behind you for supplies, and finally I would have walled in front door and used it as master bedroom and put entry door in the existing bedroom up front at the double window and used that room as living room. lots better flow and no major construction, for all intents and purpose the bedroom with the basement door would be used as an office/storage and it would have been a GREAT one bedroom. but no one wants to sell those. I would rather have small and useful than big and remodeled and not useful.
But then your guests would have to go through your master bedroom to use the bathroom....
or in the bathroom
Just did a search on Craigslist... Guess I need to move back to Colorado and get back into flipping... Lived in Steamboat for a year in 1990... Two different worlds now...!
So many negative comments I think it looks great!
Thank you!
You did a great job I have a question there is a fixer upper the landlord is saying rent free to fix it needs a lot of work is it worth doing and how can I get the property if I'm going to put work into it for my family in the future????
Sounds like a bad idea to me
awww you changed that little window cove near front door. it looked so nice with the Wood, everything else looks nice
Great job
Thank you!
You did a hell of a job on that house wow
Thank you
Amazing... the before picture is horrible can't believe he lived liked that.
Thank you!
Could you remove the wall between the kitchen and the dining area? That would open up the space and give more room for a dining table.
I would think the property would be worth more than the house. Layout on the land is odd, the house is weird. You did as best as you could with that home.
Me? I would have torn the house down and configured the whole lot...but I don’t flip houses.
You should have rented it out. The appreciation in Colorado is insanely increasing right now. A Lease w/Option to buy would have been sweet! A rental of mine in Westminster is increasing in value by $1-2k every month. Firestone is hot now as thousands are moving into Colorado and properties are getting scarce. Be careful in that area though as the water table is extremely close to the surface. Flooding is not uncommon!
Good job on this one!
I do have rentals but I make sure they make money every month
Mark Ferguson - InvestFourMore
Absolutly agree!
Mark great job on the home. can you tell me what type of wood you used on the living room floor.
It was laminate from Home Depot. I would have to check on the exact kind
Mark Ferguson - InvestFourMore thank you!
The back of the house is actually cuter than the front! You should hire a landscaper to add some color to the front to give it curb appeal!!!
That basement brings chills. Like a potential torture chamber 🙈 when i was looking at homes to buy my realtor would let me go on my own and give me the code. I would always freak out to be at a home alone. Seeing that basement would have sent me running :×
That is illegal to go on your own without your agent
A 60 grand profit in the course of like a month? As well as 20+ other projects on the go? I'm in the process of buying my first rental property and i'd sure love to be doing flips like this in the near future. Great videos, keep them coming!
It takes much longer than a month! More like 6 and the profit is not quite that high after all the costs involved.
Hello. You said in this video that you have 21 flips going at the same time. If I may ask, what source of funding are you using for your down payments / deposits and purchase closung costs (as that would not be a small amount of money for 21 houses)? And also, how many different construction crews are you managing in order to do 21 rehabs at the same time?? Managing inspections (for permitted work) and draw inspections from your lender(s) and paying all the different contractors (not to even mention keeping materials flowing to all the different job sites) would be dizzying trying to manage that many rehabs at one time.
I have some hard money, but mostly private money and bank money. I have about $50,000 of my own cash in each project. I have a project manager who manages the contractors and we have 5 crews plus 3 of my own employees. We rarely do draws of any kind.
Wish you nock down that wall and made the kitchen look a little bigger ! And she he washers would be in the way of the small dining area ! Other then that ! The house looks amazing
Can you do a video next time you go buy a home from the forclosure auction?
They will not allow cell phones in the auction room. It is not outside on the courthouse steps but in a little office. No talking or cell phones allowed.
Jk Nm how do you find foreclosure auctions?
Typically how long do these flips take?
I’m looking to buy a fixer upper and I’m curious on how long it will take to redo a home this size.....
3 months or so for just the repairs
looks nice a tuff shed could house the washer dryer units
Worth about 65K in tourist resort area where I live...!
Really great inside. I feel like maybe you can transform the outside a little more. Still looks like an old lady took a shower rather than bringing old to new. I'm really looking forward to doing some of my own! Thanks for posting
There is only so much money you can spend and still make a profit. It is a tricky mixture of how much to do and not to do.
Mark Ferguson - InvestFourMore well it looks good regardless- Good Job!
Thank you
do u work in Florida alot
Looks like a fun career
It is!
I wonder if would have been cost prohibitive to reclocate the basement door to the outside of the house?
Yes
Nice to leave the mold in the kitchen behind the dishwasher is probably behind all the cabinets as well good job
Very nice
Thank you
Why would people be so stupid to pay so much for so little in such a poor looking area...?
Looks nice for what you did, But seems incomplete both interior and exterior...!
that was the cheapest house in the area
Jobs usually pay more in those areas
What are those counter tops?
Hoem Depot laminate
Hope you replaced that pallet with a proper stoop.
Good Job Mark Ferguson. New is good in any case. The First Room you can make an office, The other room the master bedroom the door to go to the basement that is easily arranged, you buy a Murphy bed those that go ups and stick to the wall as if they were a piece of furniture when you have to go down to the basement, raise the bed, open the door. Do what you have to do, finish and go up. Put everything back, and nobody realizes that there is a door there, it can serve as your secret security hideaway. That room faces the bathroom wall, you can open a door there and close the one in the living room at the end next to the bathroom sink there is a wall large enough to make a door that connects the bathroom with the room and so on. You would have a master bedroom, an office, a fairly large kitchen with dining room and the laundry on the same floor, a great comfort, Afterwards If I had bought it I would have done that change of the bathroom door for more privacy. And then make a front porch with roof to sit there with my nice chair to watch the time go by and enjoy a beautiful garden full of beautiful flowers and a very green grass that I would also put it and final detail a beautiful white fence to give more beauty to my small but pretty house, And in the patio I would make it Another back porch with a roof to put my barbecue and grill in the evenings with friends and family. It would be My dream house, Easy to Clean because it is small, Little expensive to heat or cool because it is small, And the heaviest work already Ferguson and his team did. Now the little dolly house Just need exterior beauty to the taste of the new owner :).
Question: What is that huge hole under the house at 5:17? I thought it was a reflection off of a puddle of water but it's really a hole under the house. Why?
The window well?
Mark Ferguson - InvestFourMore ......it's under the house at 5:17.....a large dip
Egress??
It's the cellar window well.
wow so clean now 😮✨✨ .. it was so horrible the before 😂
Thank you!
Cute home.
Thank you
Damn here in vernal Utah a home for 200,000 is way bigger than this. Crazy
Do you just buy properties with your own money? Or do you take out loans you essentially pay off after selling them?
I get loans on most of them. investfourmore.com/2013/08/28/should-you-pay-cash-for-a-rental-property/
so in colorado, how do u go about finding contractors/sub contractors to do the work? i have a hard enuff time finding reputable people to fix appliances, but i also think we have a lot of "cheap" labor coming from the far south, if u get my drift. U just got a buncha peeps who u use routinely and have etablished a good relationship with such that u can use them over and over again?
beautiful turn out by the way, remarkable flip
Thank you, and I think you saw the other video but here is another one as well. czcams.com/video/qMQR0v9cako/video.html
czcams.com/video/yTx2WbumGIo/video.html
the washer dryer hook up is a deal breaker! Should have taken out that kitchen dividing wall and put them in that corner where you wanted to place them! Also a different solution for getting downstairs is very necessary. Nice fix up though, loving the vids
Yeah, that would have upped the budget a ton
Does 30k spent include contractor fee or only material?
Everything
What a weird layout
How long did it take to sell this house?
About a week
Do you have any tips on how to get into this business?
Have you seen my blog investfourmore.com?
This really makes me appreciate my state even more. $180,000 house here is about 2,000+ square foot. You can go up to around $250,000 for 3,000 square foot and it is all in a great neighborhood. I thought only New York, California and some cities in Texas and Florida were pricey, but a 800 square foot house for $230,000? That would never ever sell in my state. You would be lucky to get $80,000 for that here especially with the yard in that condition. Is Colorado really that expensive?
Yes, it is
Good job with your house. A house like that would sell for $75,000 here in my part of Florida. Guess it’s all about location.
Snow Burnt I know right? Houses here are so cheap compared to other states. You’re better off buying in FL rather than renting because they charge twice in rent compared to what your mortgage payment would be. Florida is a great place to fix and rent but then you gotta hope the renters don’t screw you over.
For sure, and parts of Florida it would sell for $500,000
Unless you are in Naples or Miami Beach
For sure. Rent has gone way up in the past 2 years in my area. Going to have a mortgage of $689 with taxes and insurance, from $1,000 in rent. We close next month.
Snow Burnt That’s awesome! Congrats! Nothing like owning your own home and you’ll be saving so much money!
Why not put the W/D in that little nook and close it off with an accordion door?
How do you fix it up? Do you just hire a general contractor?
czcams.com/video/Fk11-7F82kI/video.html
Wow looks great!
Thank you
Mark Ferguson - InvestFourMore yes I found it! Looks great!
You could have done some work on the outside to give it curb appeal.
Glad the house looks a lot better, although I personally feel that the land could have had a lot more potential. I agree with the other comment regarding the architecture was done horribly.
I love it!!!! Houses here where I live start at 850,000. 225,000 wouldn’t even get you a shed! 👎🏽
Haha, you have no idea how many people tell me our prices are too high
yep, I feel you... hawaii house prices are nuts
I live an hour outside of Detroit and bought a new built colonial last September for $210k. It has 4 bedrooms and is 1,803 sq and a 700 sq foot basement too. Closer to the suburbs would be at $300 k and up.
How much does it cost to do a remodel like this?
$40,000 or so
looks better! would look even better to extend a roofed porch across the front...because the front of house looks like a side entry...
Wow! Trash to treasure.
Thank you
How much could the renovations had cost if you did it without a contractor and did it yourself.
$130k for this 2/1 800 sq ft dump? where is this? oh Colo. nice remod but what's underneath? dry rot? mold? insul? new paint/roof/cabs/gutters/cheap flr. added. clean and dump fees?
You should come to Wichita Falls TX.
There are so many cheap homes for sale!
I wish I had the income to be able to do this.
There are a lot of places with cheap houses, but sometimes that means they are harder to sell as well.
We have beautiful homes in the area as well!
The real estate in this area seems to be doing well.
What did it end up selling for?
I am not even sure anymore. More than list price thought which was $224,900
Wow!!
Did anyone else noticed what looked like mold where the dish washer would be ?
We fixed that.
Wow 🤗
w/d will cover the floor vent
How long did it take from purchase to sale?
About 6 months I think
Mark Ferguson - InvestFourMore
Not bad, what was the profit?
investfourmore.com/flips/
You should clean or fixed up the kitchen where the dishwasher I’m assuming goes. Looks nasty
We did
fabbysusan I was looking through the comments seeing if anyone else noticed it. Did you notice how fast he was moving the camera from that spot. That's just disgusting and makes me wonder what other corners were cut.
JulV Wildcat at least they cleaned it up.
fabbysusan yup.