I made $187,861 NET profit on this flip!

127 Replies

Hi @Andy M.  surprised you recognize me in my little boat. It looks like going to that conference did you well. It was such a great time. Hope to see you again.

@Jeff S. The BP conference was great, I keep waiting for the next one (hint hint @Joshua Dorkin  ) But seriously I made a few GREAT friends there. Ryan Webber and I really hit it off, it was like we were brothers. We had monthly phone calls and I was pretty shook up when he died. I also linked up with Aaron Mazrillo, he and I are really good buddies now as well.

@Larry Turowski  Hey! Walks are good, at least you are on base with an opportunity to score! Seriously though, I've done A LOT of flips and wholesales over the last 12 years, but that was the highest net profit.

@Anthony Gayden  HGTV eh? I guess that would be cool... but I would have to make up a bunch of dramatic events that didn't happen. :) I am recording another story right now about a house that I bought at trustees sale, and my basement of that house is currently leaking. Ugh, there is some real drama. Stay tuned for that one in the coming months. 

@Brian Ortins  I don't make a scrapbook of all flips, but I did put that one together as a gift to my buddy Matt that did the remodel with me. It just had such good before and after pictures so It made for a great story. Thanks for the comment!

@Christine Lovett  That is awesome! I really appreciate it! my new "vlog" is definitely a labor of love and the pay I get is view feedback. Thanks for sharing it. :)

@Rick Baggenstoss  Yes, we always planned on finishing the basement, but the upstairs space was a welcome surprise. Matt (my partner in the video) and I have been friends for a long time. I'm a better wholesaler than him, but he is definitely a more talented flipper than me. He has an eye for details and colors that I just don't have. On most projects (starter homes) it isn't as important, but I didn't want to tackle this project on my own. We actually split the deal 50/50, we both put up half of the purchase money and half of the repair money. I brought the deal and he handled the renovation with my input.

Congrats @Andy M.  !

I have been involved in flipping homes since '98 and I have been blessed with two similar deals to yours. You never forget those home runs! Keep going to bat and you'll see another I am sure. Those sure help keep me in the REI game!!

Congrats on your success Andy, it is always nice to hit a home run once in a while.

Being a numbers guy, I am wondering how you managed to hold this property for one year and sell it for only $32,000 in costs to get to your posted net profit?

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