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A HOUSE flipper has taken to social media to reveal how investing in real estate changed his life.
Roman, also known as (@realestatereaper) on TikTok, recently posted a property that made him $23,000.
A property flipper recently bought a home for $135k and is flipping it for $182kCredit: Tiktok/realestatereaper
The house flipper then shares the details with his followers on TikTok.
In the video, he introduced himself and said, “I’m Roman, I’m 23, I’m making $132,000 this month flipping houses, and here’s one of them.”
He claims he spent $7,500 on the rehab, bought it for $135,000 and is selling it for $182,000.
The three-bedroom home featured in the video just went under contract according to Roman who said he missed out on $8,000 from “not paying attention to details.”
He then walked up to the front door, opened it, and as the video panned across the floor, he claimed the property should have sold for $190,000.
LESSONS LEARNED
He claimed that he “messed up on a few things” when making the deal and revealed the small details that made an $8,000 difference.
Unlike the majority of his other deals, he said he got it off of MLS, a real estate system where listings are featured.
“I thought I was going to make $30,000 off of it but I made $23,000 which is fine,” he said. “But here’s where I could have made more.”
He didn’t originally notice that the property doesn’t have central air, citing it as the reason the property sold for $8,000 less.
But he claimed he would have likely still done the deal had he known he was going to make less money.
My council house was falling apart so I gave it a glow-up on a budget – people are so impressed with the transformation
“I did learn to always re-finish these hardwood floors,” he said. “People love that s@#t, it looks great, cost me $800.”
While he was supposed to spend $2,000 on the rehab, he said the property needed more work than he originally thought.
ANOTHER LESSON LEARNED
Another lesson he learned, though “small” but “a great detail” was to have a power washer come in after landscaping was completed.
He also pointed to what he described as a “really nice backyard” but in the same breath, revealed that the property had no AC unit.
“No idea how I missed that,” he said, talking into the camera and walking away from the house.
He closed the video by claiming he had another home under contract today and is buying four more this month.
“It’s a great time to be in business,” he said.
Another property investor, Jon Schoeller (@JonSchoeller), shares details of his home transformations on Youtube.
Meanwhile, Elisa (@TransformRealEstate), a YouTuber and house flipper, has been transforming homes for six years.
In other house flipping news, one investor bought a “damaged” house for cheap but it turned out to be “a steal.”
Also, a real estate couple bought a fixer upper home for $51,000 & sold it for $210,000 – it took three months and their profit was “through the roof.”
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This article was originally published by a www.the-sun.com . Read the Original article here. .