How To Start Flipping Houses (70K First Flip)
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- čas přidán 19. 08. 2024
- In this follow up video, I'm going to show you how to start flipping houses with my coaching client Gary. His first flip should net him $70,000 and he's only been at this for a few months. If you're looking to get started flipping houses, watch this video now.
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IAM so prove of you son you make me happy you are doing good God is good all the time love your mom Addie.
Congrats Gary! That is an amazing achievement!
The attention to detail and creative solutions in this renovation were truly impressive!
My man from the 757representing.Im so proud of you my dude !.Pops would be proud of you and Alberta
Congrats Gary ! Get it on the market and make that money! Job well done!
I am looking to do my first flip, so the brother done a good job. I think he should talk with more hard money lenders and they should at least fund the entire renovation, based off of the contractors estimate that you decided to go with. A good hard money lender would want that contractor to break it down to a "T" and escrow the rehab and will not let you pull funds until that scope is done. Its cumbersome, but it protects you as the investor.
Now, I am wondering what was your down payment. Either way its good that you have capital and that is a relief. Moving forward, I would not have that much skin (money) in the game....search for more hard money lenders or private lenders that is more investor friendly. All in all, awesome job brother...lets get her sold.
5 star video, show so much information, coaching awesome!!
Glad you liked it!
Awesome.I was waiting to see this.Congratultion Gary🎉
Awesome...Go Gary. On to the next one !
Great video. Congrats on your first fix and flip. Excellent job!
Thanks for this video Jamel!
Thanks for watching!
Take a shot every time Jamel said Came out really good bro
When you say stuff about how it looked before you show show visions and pictures of it before while you say that.
Like aww man the back had this and that back there it was a mess
“Flash the picture”
I think this would be more attractive to the viewers I flip so would love to see before picture flashes as you walk through.
Great great video though loved it !!
We’re is the before video ??
Appreciate the feedback. I don’t edit the videos, but we did add the previous videos in the cards for your viewing.
God Bless You ‼️‼️Jamel You’re Special 💪🏾
❤ good video! Love the simplicity.
Congrats on Gary's first flip. I think the Contractor didn't do the best job with all the mistakes and oversights, especially, the swing cord in the bedroom ceiling. Also, the shower door that's hitting the toilet should be moved to the right side and add a door stopper.
The podcast would be great
Congratulations guys
What is whole sale houses
Hi Jamal. I wanted to know how much your coaching program cost, real estate investing has always been dream of mine since I was in high school, however I’ve always been to broke to even try it’s only now I’m beginning to learn about hard money lenders.
awesome
first deal
Do you recommend using contractors or subcontractors for flips?
good information
Thanks
You the truth
Good video
This is why I dislike coaching and salesmen. Ultimately you are a salesman. He is not making 70k. Short-term capital gains taxes exist. So, he grosses 69k, but that is not his net. Also, how did you all magically come up with an appraisal of 25K higher 😂😂 without the realtor finagling the numbers he should gross 44K. Which isn't bad, but most of your audience won't understand this. Also, his having to use credit cards, HML, etc is a quick way to bankruptcy/failure. You don't mention how much you made for the wholesaling fee. He seems to be happy but has not sold the property yet. He doesn't know what he will make after holding cost. There is a lot of missing/ misleading information
I appreciate your comment. But this is exactly why I dislike these types of comments….
1. Capital gains tax is obvious, but this video wasn’t a deep dive into the numbers.
Also, I mentioned that I handed him the deal. Whether I wholesaled it to him or not is irrelevant. Also what I made is irrelevant.
2. You called me a sales man. Real estate is sales.
@@jamelgibbs Real estate is sales, but you are essentially taking high-risk individuals and combining them with high-risk debt all while making a profit whether the flip is sold or not. I reckon they are consenting adults
$69k would be his net profit margin before taxes. No business refers to post tax, take home as your net profit. You take the gross margin and deduct all expenses, then you have your net profit. After you have your net profit, you pay taxes on that amount. I think you may be confused on the difference between net profit and take home after taxes.
@zachdollar21 BINGO!!!
So the contractor on his original video explained you had 6 years to file a claim on The company that’s hired if something go wrong
Not sure where you’re going with this