Real Estate Investing Training Video – How to Flip A House Part 1
www.localmentor.com Get more Flipping Houses training resources here for FREE. In this video I show you a house I just bought on Friday. Retail Value is $285000, Purchase Price was $206500. Repairs needed New mini-blinds, remove wallpaper, repaint interior, replace deck boards, repait exterior trim and deck, update some fixtures, replace the downstairs carpet – totalling around $7000. Very light rehab numbers. We’ll sell this for around $285k, less 5% commissions = 270750 – less 7000 rehab – less 206500 purchase price = $57250 Profit before taxes. Split 50/50 with my lender = 28625 profit before taxes. I goofed in the video and said 28k AFTER taxes – that is BEFORE Taxes.