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A REAL estate investor from Ohio has shared the details of his lucrative flips on social media.
In a recent house flip, he completely transformed a home and made a solid profit.
Property investor Tommy Harr (pictured) gutted a $205,000 home to start with a blank slateCredit: TikTok/tommyharr05THE FLIP
Tommy Harr (@tommyharr05), a property investor and house flipper, is located in Columbus, Ohio.
In a video, he shared the details of one of his recent projects with his thousands of TikTok followers.
After purchasing the property for a little over $200,000, Harr invested $120,000 and six months of time into renovations.
“This place was completely gutted. So we started with a blank slate and made it a complete, beautiful, open-concept,” he said.
He undertook several major renovations, including moving the kitchen and opening up the living room so that it would attach to the kitchen.
Harr split a large bedroom in half to make two smaller bedrooms.
The property investor also divided one giant bathroom to make a walk in master bathroom and a hallway bathroom.
The master bedroom featured two walk in closets as well as a walk out to the deck he built.
The home lacked curb appeal, so Harr ended up completely renovating the exterior.
He added a new vinyl sliding and a stone veneer accent on the bottom.
How to make $64,000 on a house flip
A new concrete walkway up to the garage and new doors were also added.
Harr noted that the property was about to sell for at least $400,000, making for a profit margin of around $75,000.
ANOTHER FLIP
When taking on house flips, investors have the potential to make a lot of money.
A house flipper from California made a $300,000 profit on a 50 year old home that was infested with rats.
“The filming of this home was difficult and nerve-wracking because this house is so filthy everywhere and there’s rat poop and disgusting stains all over the carpet. I didn’t know where to set my feet and I was worried that rats would jump out from behind me any time,” said the investor.
The property initially cost $850,000 and required a lot of renovations.
The $150,000 revamp went towards replacing the popcorn ceilings, painting the walls, and removing the wall in between the living room and kitchen.
Additionally, cabinets, vinyl floors, a kitchen backsplash, new light fixtures, a vanity, and a new shower were installed.
The investor turned a “disgusting house into a dream home,” and ended up selling the property for $1.4 million.
In other home news, an investor made $325,000 in 30 days after buying an “ugly” run-down apartment – he didn’t need to do any work.
Another property investor bought a beat-up home from a friend and made $50,000 – the views are breathtaking but it needed a “big rehab.”
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This article was originally published by a www.the-sun.com . Read the Original article here. .