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House Flip on a Budget - Hoarder House Renovation Before and After, All the Numbers & Takeaways
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- čas přidán 14. 08. 2024
- House Flip on a Budget - Hoarder House Renovation Before and After, All the Numbers & Takeaways
This was my first hoarder house flip, and it was an interesting experience. I was able to complete the house flip on a budget, and achieve an $80k profit by only spending $40k on the house renovation. On this million dollar house flip, I'll show you where I decided to spend money on on the house flip to get the most return on the budget.
Home remodel on a budget is an art and there are a lot of tricks that can help you save money. Watch this video to see the home remodel before and after and learn my tricks to cut my normal home remodeling budget in half.
This video shows you the house flip before and after, the house flip numbers and my takeaways. If you are looking to fix and flip houses or do a house renovation on your own home, this video is a must watch as the before and after home remodel will give you a good idea on how to do a house flip on a budget.
If you are a house flipping beginner, subscribe to my channel to learn how to flip houses. I hope to be your house flipping coach and show you the path to a successful house flipping career!
#houseflip #housefliponabudget #houseflipbeforeandafter
Watch next: House Flip Before and After - $300K Profit - House Renovation & Garage Conversion with Numbers
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Recommended: House Flip Before and After 2020 - $300K Profit - House Renovation & Garage Conversion with Numbers
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How do you find out if the house value is declining
Tram.hoang0835@gmail.com
Jennyzha68@gmail.com. Thank you!
My mom & I have been binge watching your “before & after reno” videos even tho she doesn’t understand English! Love how you organize the content on these videos 💕
Aww, that’s so sweet! Thank you so much!
I love that you share your struggles and how you overcame them. Very entertaining from a plot perspective but also very instructive for the viewers. Thank you for sharing and look forward to your next video!
Thanks! The struggles make my stories more interesting, and teach me valuable lessons - I wouldn't want it any other way! Glad you found it helpful!
house looks really nice after remodel, but wow is that house tiny. crazy that people are paying $1.2m for 1300 sq ft
That’s actually a good price for the San Francisco Bay Area. Most decent houses are a million +
It has FOUR bedrooms though! I also live in the SF Bay Area. When my in-laws and I were browsing open houses, most were two to three bedrooms for $1.7-1.8 million. I do live on the more expensive side of the bay though. On the less expensive side, you can get a three-bedroom for just $1.2 million, but that's the cheaper side.
It's just sad that decent simple homes cost so much. Back in the day Homeownership meant so much more than just the bottom line. It was accessible to most Americans and they remained steady over the decades. Now we are creating a major gap between the haves and have nots. I live in an area of California and just in the last 4 years the same homes have doubled, tripled and in some cases quadrupled in price. A home that sold for 469 just 4 years ago sold for 1.2 million the other day with no renovation. My friends sold their house last year for 575. 60k over asking. In 8 months those buyers resold the house for 895k to a flipper and he's gutting it. It's becoming harder for people to save over a number of years just to buy a house and then pay the much higher mortgage and taxes. The cost of rentals is ridiculous too. More and more families are being priced out. In one part of the city I live in rentals were 800 for a 1 bedroom just a few years ago. Now they are going for 1500 and called luxury living. It's laughable. An average 3 bedroom house was 1500 now it's about 2800 to 3500. It's a major contributing factor to homelessness in this country. I do believe greed and selfishness are driving up prices quickly. Just like inflation. I also believe that one day there will be a major depression causing housing and so many other things to come crashing. Throughout history there has never been a society that could sustain itself when the average family is being priced out. There has always been a course correction.
We’re trying to get a good deal to renovate and end up buying a hoarder home. Wished I see this video sooner, I made the same mistake giving the owner too much time. We ended up delayed closing by 3 days and he still have stuff to get today 1 days after closing! I allow that since he taking everything including trash with him. It would of cost me more $ to remove his trash. Thanks for a great video, very organized and clearly presented the point!
I'm glad that you liked the video! Sorry that your closing was delayed, but it sounds like you got a great deal! Good luck with the renovaton!
Just discovered your blogs and am enjoying thoroughly. I think I’ve learned more about flips in the few days since I joined than I ever did watching tv shows about flipping! Most appreciative of the numbers you include, as well as the video on how to analyze a flip! Keep up the great work and continued prosperity and good luck! 👍🏼👍🏼👍🏼💰💰💰⭐️⭐️⭐️⭐️
Your charm, design sense is absolutely remarkable. It not just a flip flop or a brandade look. It is clean and refinished with the perfect finishing touches. This is helping me with looking for a house just in case i have to do updates.
Have you ever considered offering design services for people who just want to fix up their own house? That would be a cool way to make money outside of your area and all you’d have to do is work remotely. I wish I had your eye for design!
Very nice result for a budget remodel! 👏🏼
Thanks Natalie! I really like how it turned out too!
Absolute legend 🐐. Im calling it you gonna hit a million subs this year
Another great flipping! I love your renovation thoughts. Thank you so much for sharing, is it possible to chat with you individual?
This is so informative, thank you! Could you do a video in the future where you go in depth on the remodeling numbers? Like "extending the hardwood floors into the kitchen cost x dollars"
I’m planning a video on detailed kitchen costs. Stay tuned!
THANK YOU SO MUCH for the helpful content you have on your channel!! I am a realtor looking for my first property to flip and you explain each step so well and easy to understand!! I also appreciate your sincerity; I believe you are interested in others succeeding.......
"Starter home" is such a relative term. This is a $1.2 million house...that would cost someone $50,000/yr just in financing. Not many teachers, sales clerks, etc that could afford this "starter home"
If this was in Norway, you as the buyer could rent someone to move the trash and clean the house and the pay for that be taken from the sale price, so that the seller would haft to pay for it.
I hv a question that you might hv covered before I don't know.Why do you offer for people to leave their trash behind? Doesn't it cost you money and time to get rid of it?
can I ask what caused the market go down back in 2020? I thought that was when interest rate was low and housing market started to getting hot
would you share what colour of white you use for repainting kitchen cabinets
Hi Elisa, thanks for sharing your experience! I’ve a huge fan of your videos and would like to try house flipping myself as well. Do you have experience of house flipping in Marin county, do you think it is a good market?
Thank you for this educative video!
May I know if you have to pay capital gain tax since you sell a few months after you bought the house, or you pay regular income tax rate?
Thanks!
what happens with the first buyer who backed out? does he/she need to pay for the difference in price
Interesting that the finance cost was more than the remodel cost. Glad you were able to profitably sell the place. Would have been interesting to mention how much time, money it took to remove all the stuff the previous owner left behind.
Yeah, this flip was one of my first few, and my financing cost was high because I didn't have experience. I was paying 10% and 2 pts. It's interesting you asked - people tend to think it's expensive to haul the trash, it's actually not that bad. For my projects, it's usually done while the house is being demoed and the trash is hauled altogether, a few thousand dollars, in a couple of days.
You make quite a few concessions to the seller after the price is agreed. E.g extended free rent, trash removal etc. Why don't you get the seller to come down further on sale price because of these additional expenses you must now cover?
Thanks for the video, would you mind to make a video about the furniture?
Do you buy all furniture for each house and do you sell it to the buyers or what happens with the furniture after the sell?
Thanks a lot
The furniture is from the staging service I use. It’s like a rental service and the furniture will be removed before the house is sold.
@@TransformRealEstate thanks a lot
If someone fixes home by-self, there goin to be more profit right?
Hi! Would I be able to get the data analyzer that you use? :)
This looks very nice but wow it’s tiny. That’s so crazy that it’s more than a million
Anyone else see that turnkey investment add?
Because if you I want to start flipping in Las Vegas, what are your thoughts for Vegas market?
I don’t know much about Vegas. I think it’s best to talk to someone who’s familiar with that market.
I really hope she kept the trailer and remodels that
That would be fun but it’s not my specialty so I gave the trailer to someone who knows what he’s doing ☺️
First! :D Out of curiosity where do you find these properties? I'm looking into some flips myself
I get all my deals from real estate agents. This video talks about the details: czcams.com/video/HzTp0neHIdI/video.html
@@TransformRealEstate Thanks so much! I'll watch it now!
@@TransformRealEstate The video is private. Could you give me permission to view it? Thanks.
How did you find this property?
An agent brought it to me. If you want to learn how to find off market deals, check out this video: czcams.com/video/HzTp0neHIdI/video.html
@@TransformRealEstate Thanks!
I kinda liked the trailer in the back. Does that really decline value?
Haha! I think some buyers may like it, but many buyers would be turned of by the over grown tree and the trailer that they don't know how to get rid of. So it would be risky.
@@TransformRealEstate What do you do with stuff like that? Did you just junk it? In SF, I would probably throw that thing up on Craigslist and hope somebody buys it for Burning Man!
How happy were the neighbors about this flip???😂
entry level? over a million? still looks dated despite some upgrades. Now you can get 7% on corporate paper.
financing cost 45k！
Backyard looks awful.