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A YOUNG couple made $90,000 on a single home flipping project.
They buy houses that “most people wouldn’t” and fix them up to sell them for a profit – hopefully.
The home was $89,000 when they bought itCredit: Youtube What The Flip
They were able to sell it for $240,000Credit: Youtube What The Flip
One of their most recent projects proved to be a worthwhile investment.
On their YouTube channel (@WhatTheFlip), they shared a detailed breakdown of what they did to increase the value of the home to $240,000.
The home measured 2,000 square feet and had three bedrooms and one bathroom.
It was priced at just $89,000, offering the chance for a huge profit.
On the outside, the house needed “extensive repairs” like a new roof, new windows, and work on the chimney.
The couple took out a construction loan for $20,000 to replace the roof and windows and decided to paint the brick building white.
Some of the DIY projects on the outside included painting the sidewalk, and planting shrubs and other landscaping to “maximize the curb appeal.”
INSIDER EXCLUSIVE
On the inside, the kitchen was a mess.
“Pretty much everything about this kitchen sucked, so we just had to throw it away and start over,” he said.
In the kitchen, they added custom cabinets and countertops.
The only bathroom in the house was on the first floor.
“After the kitchen, I didn’t think things could get any worse, but this bathroom absolutely sucks.”
Luckily, the second floor was in pretty good shape and there was a lot that they could reuse.
They turned a large closet into a second bathroom for just $3,500 by doing a majority of the work themselves.
The couple always does the demo themselves as a way to save money, and they think it’s kind of fun.
They also ran tests for lead and asbestos to make sure everything was safe.
The entire house got a fresh coat of grey paint and white trim to complete the makeover.
The total renovation cost was $61,536. Plus, they only had to take $41,000 out of their funds because of the loan they got.
QUICK FLIP
Nick Marrieta is a real estate pro in the Las Vegas area who also flips houses.
He flipped a home in just 12 days and made $50,000 in profit.
In the first week, they finished the demolition, plumbing, drywall, HVAC, flooring, cabinets, and countertops.
After a new coat of paint was applied throughout the home and then the exterior work started.
In the final two days of the project, the crew spread gravel on the front yard and cleaned the inside of the home.
“We’re going to sell it for over $400,000,” Nick said.
“We’re going to make somewhere around a $50,000 profit.”
Another flipper was able to make thousands of dollars without having to do any renovations.
Plus, see the work one person did to increase the value of their house from $43,000 to $166,000.
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This article was originally published by a www.the-sun.com . Read the Original article here. .