Utah Fix and Flip Success

6 Replies

Figured I would share my latest flip success. Here’s a little back ground on myself. I have been in real estate since 2004, have flipped dozens of properties, and sold dozens more homes. I have had many successes and also lost money. Flipping homes isn’t for everyone. I have learned a few things over the years. I am a full time Realtor and know and understand the market better than most. My advice is always get a great team of people you can trust. Don’t fall for those get rich quick schemes that you have to pay $20k for a so called education. Find someone who knows what they are doing and partner up. So here are the numbers: Purchase Price: 140k Holding Costs: $3,350 Rehabbing costs: $45k Total: $198,350 Sales Price: $240,000 Commissions: $0 (I’m a full time realtor and found a buyer myself) Seller paid closing: $5,000 Net Profit: $46,650

Thank you! I don't buy anything on mls, if it's listed it's already too high in my opinion. All my deals come from marketing, networking and or wholesalers. Also yes on all my deals I stay in Weber county. 

@Shawn Cottle I'm originally from Utah and have thought about doing some real estate projects in Utah County with some family I have out there but am turned off by the high prices I'm seeing.  I'm wondering if you'd share a bit more on how you found this particular property, what tool and method worked in this case, and how it came about.  Whatever you're comfortable sharing.  Thanks.

@Shawn Cottle those numbers are really impressive. You make it sound easy haha! How were you able to keep your holding costs so low? Could you itemize it a little more?