Wholesaler · Clovis, CA · Member since 2011 · 31 posts · 39 votes
10y
I just flipped a junk house from 3,000 miles away. A beginning investor names Shaunte from Baltimore seen a few of my posts on this site and contacted me asking for help. I instructed her to place multiple ads on Craig's List. "I Buy Houses" Soon she sent me an address of a junk house that sat in a nice neighborhood. The roof was really bad the entire interior was destroyed.
Another Wholesaler had it on contract for 6K and he wanted 6K, we sent him the paperwork got it signed
and soon started marketing it for 36K the ARV on the property was about 110-120K
We got lots of calls and interest but the house was in such bad shape we kept lowering our price and decided to accept a solid $18,000 offer from a local Rehabber.
We started escrow and it just closed last week and Shaunte and I split a $6,000 assignment $3,000 each. 3k I know is not a lot of money, but it was fun, I got a photo of Shaunte holding her check all smiles, it was her first deal. I'm here in Central California and to flip a house across the country is really exciting an opens up my mind to doing more long distance deals.
I've been wholesaling RE for 3 1/2 years now, Last year I made $93,200 and this year is going to be better, last month I made 28K and this month $40,000. Really exciting, I used to do construction and made 30K a year after expenses.
PS I've paid out $9,000 this month in Bird dog fees
Rental Property Investor · Chico, CA · Member since 2016 · 625 posts · 336 votes
10y
@Marcin Chojnacki Great job! How did you get an HVAC for $3200? Did that include install? Out here in California they are charging $8000 almost as a minimum. I am talking about 1200 sq ft basic homes.
Roselle, IL · Member since 2015 · 165 posts · 143 votes
10y
@Dylan Vargas Yes it included install, some extra ductwork, and the units.....YIKES!! Well I'm sure we also have the HVAC guys that would charge 6-8k for the same work. I would say the average for new units is about 5k in our area but it varies greatly on size of home, type of AC/furnace, etc. We always get the 95% efficiency units and on up to a 2,000 sq ft we're usually at $2,400-$2,800 as long as there's not whole new duct work.