Real Estate Investing Training Video - How to Flip A House Part 1

by Dave on November 10, 2009

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 5000, Purchase Price was 6500. 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 00. Very light rehab numbers. We’ll sell this for around 5k, less 5% commissions = 270750 - less 7000 rehab …

Tagged as: estate, flip, flipping, house, houses, investing, Jake, michael, Michael Jake, real, that, this, Training, video

{ 3 comments… read them below or add one }

Anonymous 11.10.09 at 4:03 pm: Great Video.. Thanks for all the info…
Anonymous 11.10.09 at 4:03 pm: Thanks for the complement.

Highest offer is usually 100% financed
Middle is split funded
Lowest is all cash or all cash for equity (depends on how much equity there is) - typically a number that allows me to wholesale it or have extra margin if I’m retailing it.

for low equity deals I may offer a lease option and offset the starting payment date, not start paying at all till I find a subtenant or purely a “performance” based where I only pay when I collect from a sub-tenant.
Cheers!
Anonymous 11.10.09 at 4:03 pm: thanks for all the info. you make some of the best vids on real estate investing.

You have inspired me to get started in NYC.

what are the specifics on your three offers? was this an all cash purchase? did you use your contract or the agents?

Real Estate Investing Training Video - How to Flip A House Part 1

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