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

Real Estate Deal Analysis & Advice
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I made $187,861 NET profit on this flip!

Andy M.
Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes

I've been a real estate investor for about 12 years now and I've been involved in a lot of flips. I don't do upper end houses, mostly just starter home stuff. I know that there are people who frequently make 100k + on flip projects, but those are generally deals that sell for 1 Million plus.

I sent a direct mail piece to one of the owners of this house (absentee owner) and after months of her "vetting" me (see called all of my references, including my attorney!) I bought the house for $113,000. I spent $150,000 on the remodel and sold it for $482,000! After all commissions, closing costs, etc. I had a NET profit of $187,861. This is my highest net profit on a single flip ever.

I made a really cool 5 minute video of the project for my blog. You can check out the video here: http://youtu.be/XoIEY0IrOuQ

Hopefully you find the story more interesting than my kids did! :)

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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
12y

Nice short video, very cool.  Only thing that would have made the story better would be if you would have presented the old owner with her old tin toy when she came back to see how you transformed the home.   I like what you did to the home.  Crazy it took 1yr to renovate. 

Curt Davis - KAIZEN Realty538 Reviews
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  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    12y

    @Jon Klaus Lol. Spoken like a seasoned investor. It is the curse that no one wants to hear you complain about, "ah man, I just wrote a six figure check to the IRS this year". It just comes off like your bragging. 

    0Reply
  • Mike Gallagher
    Ogden, UT · Member since 2013 · 266 posts · 51 votes
    12y

    great job andy

    0Reply
  • Jon Klaus
    Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    I agree, super nice rehab, especially reclaiming all the square footage up and down stairs.  And very creative video, too!

    0Reply
  • Justin Baker
    Flipper/Rehabber · Tacoma, WA · Member since 2014 · 38 posts · 18 votes
    12y

    That is too cool!  Great job, and believe me just pay for a Disney trip with some of the profit and I am sure they will be excited!  =)

    0Reply
  • Bill R.
    Henderson, NV · Member since 2014 · 111 posts · 163 votes
    12y

    Fantastic and really cool video.  

    0Reply
  • Annette Gutierrez
    Bloomington, CA · Member since 2014 · 14 posts · 2 votes
    12y

    So Cool! Awesome job!

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    12y

    @Justin Baker That will definitely eat into those profits! I took my whole family to Disneyland a couple months ago and it cost me almost $1,000 for the day!! But they did love it. Happiest place on earth right?

    @Bill R. & @Annette Gutierrez Thanks for checking it out!

    2Reply
  • Keith Agnello
    Wholesaler · Huntington Beach, CA · Member since 2013 · 41 posts · 10 votes
    12y
    As much as love the results, I loved the video. One of the most creative realestate videos I ever came across. Congrats on both!!
    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    12y

    @Keith Agnello Thanks Keith! I really appreciate that. I'll pass that onto my brother (the video editor). :)

    0Reply
  • David C.
    Investor · Bay Area, CA · Member since 2014 · 207 posts · 190 votes
    12y

    One of the best RE videos I have seen.  Great job & inspire me to do better on my flips.

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    12y

    @David C. Thanks David! I appreciate the kind words about the video and the flip. My hope with all of my videos is that they inspire people. If I can help show someone what is possible then I can make a difference in their life, even if it is in a small way. 

    0Reply
  • Fred Sams
    Professional · San Diego, CA · Member since 2014 · 232 posts · 20 votes
    11y

    Nice!

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    11y

    @Fred Sams Thanks for the love! My kids still really like the video as well. They really love to see themselves on "TV". :)

    0Reply
  • Gina Gee
    Involved In Real Estate · Cape Coral , FL · Member since 2014 · 12 posts · 10 votes
    11y

    Amazing - now how old were you when you started, 12?

    1Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    11y

    @Gina Gee Lol, is it because I still look like I'm 18? Yes, those kids are mine. I actually started when I was 22 and I'm going to be 35 in a few months. Getting up there. :) 

    0Reply
  • Andrew Jones
    Real Estate Broker · Brossard, Quebec · Member since 2014 · 36 posts · 9 votes
    11y

    I think it's great that you brought your story to life through that video!

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    11y

    @Andrew Jones Thanks buddy! I actually shot that video when I was on vacation with my brother and kids. My brother is the chief editor and video guy. :)

    1Reply
  • Ndy Onyido
    Toronto, Ontario · Member since 2014 · 615 posts · 172 votes
    11y

    Amazing stuff! Keep it up :)

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    11y

    @Ndy Onyido Thanks for the love on the video! We actually have been making A LOT of videos like this one. My brother is now full time working for my video blog cranking out videos like these. :)

    0Reply
  • Account Closed
    Las Vegas, NV · Member since 2015 · 29 posts · 0 votes
    11y

    I dont like the old lady...................lol.  what was she like when you told her you made sooooooooooooooo much money on her hunk of grabge home.?

    0Reply
  • David Kay
    Rochester, NY · Member since 2011 · 25 posts · 1 vote
    11y

    Excellent work. How much did the attic renovation cost?  Did it include electrical and plumbing?

    0Reply
  • Andy M.
    OP
    Investor · Farmington, UT · Member since 2011 · 314 posts · 179 votes
    11y

    @David Kay I don't remember specifically how much the attic renovation cost (I don't think we broke it out like that). But yes, the total repair figure included all new electrical and plumbing though out the whole house. Thanks for the compliment on the project. ;)

    0Reply
  • Andrea Coar
    Real Estate Agent · Philadelphia, PA · Member since 2014 · 17 posts · 29 votes
    11y

    What an ADORABLE video and an even MORE AMAZING success story! Great job Andy! ;)

    0Reply
  • Richard Dunlop
    Investor · Detroit, MI · Member since 2014 · 755 posts · 462 votes
    11y

    Beautiful job!

    But how did you make a 1200 Sq ft footprint into a 3700 Sq ft house? 1200x3= ? Usually less than footprint in attic?

    0Reply
  • Seangy Sum
    Redding, CA · Member since 2015 · 12 posts · 3 votes
    11y
    Originally posted by @Andy M.:

    I've been a real estate investor for about 12 years now and I've been involved in a lot of flips. I don't do upper end houses, mostly just starter home stuff. I know that there are people who frequently make 100k + on flip projects, but those are generally deals that sell for 1 Million plus.

    I sent a direct mail piece to one of the owners of this house (absentee owner) and after months of her "vetting" me (see called all of my references, including my attorney!) I bought the house for $113,000. I spent $150,000 on the remodel and sold it for $482,000! After all commissions, closing costs, etc. I had a NET profit of $187,861. This is my highest net profit on a single flip ever.

    I made a really cool 5 minute video of the project for my blog. You can check out the video here: http://youtu.be/XoIEY0IrOuQ

    Hopefully you find the story more interesting than my kids did! :)

    Thank you for taking time out of your schedule to post your story. As someone (me) who is trying to get their feet wet with REI, these stories inspire me to push forward at all costs. If you're ever looking for someone to take under your wing, give me a call!

    Congratulations!

    0Reply
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