How To Flip A House For Beginners (Start to Finish)
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- เผยแพร่เมื่อ 27 ส.ค. 2024
- This video is a MUST WATCH if you want to know how to flip a house as a beginner. In this video, we film my friend Roman of RS Pro Homes as he gives us a tour of his complete house flip from start to finish.
The video is filmed in three parts:
1. Demolition & Rehab (1:04)
2. Completed Product (8:10)
3. Sales Numbers & Profit (11:36)
Roman will show you EXACTLY how to flip a house if you are a beginner. He walks through the entire project from beginning to end, explaining some of the challenges you can expect when flipping a home.
If you are a beginner to house flipping, this video is a MUST WATCH! Be sure to watch the entire video because there are golden nuggets of information until the very end.
You can follow Roman on Instagram @romanempire.cle and RS Professional Homes on Facebook!
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My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
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By far one of the best videos I've seen on house flipping, and with a nice motivational ending. Hopefully will see more of these documentary (Markomentary?) types of vids in the future. Also, would like to know more about house flipping, i.e. best areas to flip, how to find a reputable contractor, ways to save money, networking, how much carpentry and such you should know yourself, etc.
Markomentary! haha love it. Thank you
Yes I agree. Keep these coming as I stated in my comment I would love to know as well. I can't believe he did all that for $32k.
Love it!
lol Yu/66&(and Lee’skl
Agree!!!❤️
This Housing market crash might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.
The enduring US housing market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
*Have You Ever Flipped A House or Plan On Getting Into The Business?*
It’s definitely part of my long term strategy!
Yes always wanted to do something like this. It’s intimidating though.
Future plans yes 🙋🏽♀️
Yes sir, doing multifamily now.
🥞
Real estate investing is a great way to build wealth
I own a few properties myself. It’s a great way to supplement my job income
John Jones howd you get started
Some would argue it is the best way to build wealth...
The U.S. is short 5.24 million homes, but there
are 5.9 million commercial buildings,
containing a total of 97 billion square feet.
Many business owners are wondering if
living in their office space is a viable option.
Really?
@@garsonmark2073 Yeah!! With the current problem around the world today I think it's best everyone invest more in digital asset than
Saving in banks and real estate. Just my thoughts
@@anastasiazoya2478 Speaking of digital assets do you mean BTC?
@@garsonmark2073 yes it is,digital assets are actually the best
way to save money cause you are earning while you
save unlike banks
@@anastasiazoya2478 Awwww this is the best explanation I've
seen, investing in bitcoin requires good knowledge or best invst with an expert. I started investing in bitcoin just nineteen weeks ago,already made twenty Thousand bulks.
Awesome video! Very helpful!
I’m a 23 yr old in Texas trying my very best to get into this biz! I’ve bought a couple of books , done research, spoke to locals , listen to podcasts , bought a truck this weekend(both bc I needed a new vehicle & it can be used in this business!) and subbed to many TH-cam channels! I appreciate you guys!!
You got this Angelica!!
How is it going so far ?
How long have you been trying to find this out
I’m trying to connect as well!!! Do you have an IG to follow ?
Get after it $$$
Just in case anyone is wondering he grossed about $56k before taxes after expenses... That's a great profit margin for 6 weeks of work. Awesome
He bought for 140k-ish, spent $32k on upgrade, and sold it for 240k. Property prices depend so heavily on LOCATION! and square footage. Its admirable how he could get 72% premium on value addition alone. Must be a pretty volatile neighbourhood that could take such a substantial hike.
Took the words rite out of my mouth...
This is better than HGTV👍 Regular guys showing its possible to be successful in real estate!
Thank you!
@@WhiteBoardFinance As someone who is completely new to this how would you recommend someone to learn the trade/process to do this?
You do know people on HGTV are regular people right? 😂😏 although this is good too because we get more behind the scenes intel 🤞🏽which is honestly clutch 😊
@@zibzabzabzib2008 Get a bunch of money to buy a distressed house. Figure out how to fix everything it needs. Sell it.
@@FabiusMaximus1000 fix everything yourself.. have the knowledge to stay within your regions laws and regulations.
Know how to spot damage, like cracks, mold, water, bad wiring, bad plumbing, bad roofing - so that you can fix it.
Have the money to buy everything you need to replace - tools, floor, walls, plumbing, kitchen, bathroom, wiring..
Figure out if months of hard physical and mental labour is worth whatever you're able to make of it.
This guy knows what he's doing. Nice job!
Roman is a pro and a good guy!
@@WhiteBoardFinance 8:36 where do I get same granite counter tops and sinks and price please?
How to Make Money 101:
Step 1: Have money
I got 120,000. I'm not convinced it's enough to do anything with.
@redsoxfan I'm 66. Too old for the grunt work. Not that I look down on manual labor. Ever use a pick and shovel so much that your fingers lock onto the handles aka "ignunt stik" and you have to pry your fingers off? Ever smell the sweet Earth as you dig five feet down into the ground and tunnel under a sidewalk? All by your little self? I renovated my own house. 800 square feet. Top to bottom. I even replaced the sewer line all the way to the street. And I was working full time and over time. I used copper everywhere from 4" to 1/2". Gas line. Romex. Junction boxes. Metal receptacle boxes. Three way light switches. The space under my house is only 24" so I had to do a lot of crawling, sliding, twisting and turning. I'm the real deal. I don't know about you but I'm convinced that some The Home Depots are run by gangs. My only advice to anyone who bothers to read this is when you hear the phrase, "A little hard work won't kill you." don't believe it! Well, it WILL kill you. All the incredible hard work that I did wore everything out and I have arthritis everywhere. No, I need a supervisory job. I'm smart, reliable and honest and available 24/7. I love money. I should put some of my funds into places suggested by Fearless Leader but I don't trust anyone. Not even my bank and its personnel. (Oh, I have good reason. Banks will do what is good for them. Tellers will steal money if they can get away with it.) I would need a bonafide, iron clad contract. If the investee has to go out of business then I want all my money back plus interest. I still maintain that 120K is chicken feed.
john plaid your attitude is why you only have 120k saved up
redsoxfan hi can you elaborate on the “stacks of competitors off eBay for pennies” please? Thank you. You just have out pure gold !
Actually step 1 is educate yourself
So, he made around like $55k in 6 weeks. That's pretty good but I'm still amazed at how little he paid for the house in the first place, crazy.
Just keep in mind that this case is not the first one in his career. I'm sure that he had made a lot of mistakes getting experience.
@@AlexS-gn9tq you can tell , But mistakes come with along with being experienced
@@princesamuels5981 that means he is alittle scammer?
if he held it for 6 months longer it'd be 120k profit probably
@@mikefishes6232 he made 50k in a month, so that means he's making 300k in 6 months. he's making more by flipping rather than holding a property hoping for a drastic increase in value.
PROCESS is the basis of wealth creation. One of the greatest things I learnt in investing is the two-year rule: for an investment to be termed profitable, you must be willling to wait on that investment for at least two years. But my biggest shock was the last investment I made with the help of an lnvestment advisor. I doubled my investment in 2 months and its super mind blowing!
Glad I came across this comment section. I was struggling to decide what to do with a good amount of money in the bank doing nothing. I would be happy if you could advise me, as I am ready to go the passive income path.
@@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her.
She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself
@@skoopqueen. That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?
@@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located
@@skoopqueen. I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me
They stick with the black hardware in case you were wondering.
lol
all jokes aside black is the new color everyone is starting to use
🤣🤣🤣
😭
For anyone watching this that wants to remove a wall you cannot just take out a wall and leave one stud in until the header is built like this guy did. It is beyond dangerous to the integrity of the house. There are proper ways to do this and this was not it.
Yep , as soon as I saw that I stopped watching. I would probably take that video down if I were that investor. Can be used against him.
You’re just jealous
@@zakphillips976 jealous of what?
Sure crazy mike
@@zakphillips976 Poor thing. It’ll be ok😂
Granite, Shaker cabinets, black hardware, accent wall, dynamic color in the bathroom, stair railing, vinyl floor. Nice video and nice looking place.
I knew Roman was the real deal when he started talking about hedging the capital gains with rental property Depreciation.
Surround yourself with smart people. Good job Marko. Pat yourself on the back. ...
#Buy Ferraris with bitcoin profit
It would be much nicer is he opened the house up a lot more. Still too many walls
He is definitely not a good designer
@@reginaberry1670 Gotta weigh what would look the best against ROI. There are lots of things he could've done to make the house look better, but would it have returned enough to be worth it? For example, if max price in that neighborhood is going to be 242, and he's already estimating 242, then there's no reason to do more.
Where do you get this kind of knowledge
I would literally purchase this property JUST because of the royal blue bathroom. Love it. Well done gentlemen.
@Tcallmekells802, How are you since your last post? If you ever need help with funding your transactions, feel free to reach out
Nice! He profited 50-60k in 6 weeks! Solid work.
I live in Northeast Ohio. So cool to see these types of vids near where I live!
Flipping house can be very lucrative if done correctly
It’s also super risky if you don’t know what you are doing and use a lot of debt
Dakotah Bowman yes that’s true
Wow big brain shit
Appreciate this guy dropping gems. Wish he was in New York for us to do some business together. It’s rare to find someone who is willing to help and pass on knowledge.
So far I’ve only done buy and hold rentals, but man this is exciting! I hear The burbs in Ohio is a sweet spot! Awesome Vid!
Nice cashflow market :)
You guys are incredible. I personally hate the color scheme but if it sells it sells!!! Amazing
You an investor yourself?
I was thinking about that blue wall too)
This is pretty wild, some great friends of my fiance' and mine just bought this house about a month or so ago.
Man this video is just dope. I am closing on my first home this month, but want to get in the flipping game next year. This video was my first step in the right direction. Thanks for teaching us viewers about the 70% rule and some of the ROI adding choices. Hope to see a video soon about commercial acquisition or multi family acquisition and flipping. Excited to get in the game!
Thanks Roman & Marko for making this video!!! but dayummm 135k for a house!! You can't even buy a washroom for that price in the city where i'm living in.
Welcome to Cleveland suburbs. Lot of value here especially with all the amenities. Bad weather though
What I love about the art of this deal is that the “flipper” wears many hats. Playing the architect, realtor, forman.
Geez this is the best f’ing video!! I really appreciate the transparency
Tons of great tips here. One I love is cutting the subfloor out in the second story to access the mechanicals. Much quicker over messing with patching drywall. Subfloor could be cut and repaired in under an hour. Drywall, days.
Very true! They were going to do the floors anyways!
Love it, especially the last words of don't talk about it, do it.
I am here on TH-cam to get as much information i can get since I am have 3 houses to flip, first time flipper
Wow 3 houses to flip, that's amazing brother - hey you should check it out my last video i talk about how to flip houses and profit i'm just starting but i really want to get feedback from the community to improve my videos, and help a lot of people.
His last words hit me the hardest.. good vid.
Thank you for this brilliant video! At the end there, he was speaking to me all the way in South Africa! "If you just sit there and read books and watch videos, you'll never get started!"
Time I make the jump 👌
This is by far the one of the best videos I’ve seen on real estate
Roman looks like he could be a long lost Wahlberg brother... he better get into acting next. Great video, helpful content!
So he opened up walls, changed electrical and HVAC paths, put in cabinets, painted everything, new bathrooms, granite counters and sinks, all new flooring on 2 levels, accent walls and light fixutres....and he did all that for $32k?!
The average cost of a kitchen remodel alone is $25k and a bathroom model is usually $5k to $10k. Now I also take great pride in doing remodels for low costs but I do it based on sweat equity and unfortunately lower quality work because it is me doing a lot of it.
I would love to see videos of his strategies to get this much output for only $32k. That is awesome.
He managed the project himself and did not hire a GC. He hired subcontractors to do the work and wholesale pricing on cabinets, countertops, etc.
He is probably fudging that number was my guess. This concern and the other about how the neighborhood had that buying price in the first place were the best to me.
I like the antique and bronze finish and decor..
I’m a single mom and trying to get started. I’ve done all the research and watched all the videos and Yes, now to a point that it’s like either jump or stop watching.
Of course, no one else I talk to is doing this or in a situation anything like mine and wanting to flip homes. But, that’s why I’m so motivated to do it. I think my biggest concern is finding the right contractor to do the work and it still be profitable for me. I obviously can’t really do the work myself.
Thats every one's proplem not just you. Ask in your local community for recommendations
Great video 🔥 Great work!!!
Thanks 🔥
Thank you for the transparency. Very good video. I had a couple rentals for 2 year so I can relate. The hardest thing for me was finding reliable contractors. My houses weren’t in the most desirable areas (Detroit) but the ROI was high. Certain contractors would do work in the city. When I get back in the game, I’m going in better neighborhoods. It’s a lower ROI but she return an increased peace of mind for me
Great video. I've watched sooo many videos....and the ending was very inspiring. I think it's time....thanks for sharing 👍🏼
This seems exciting
The Key is to TAKE ACTION!!!
Easily the best flipping house info. I have no interest in flipping but the down to earth, straight to the basics is awesome.
Very helpful, I'm just getting started in the Nashville market. Everything has gotten so expensive here and so much competition. Thank you!
Thank you Marko for your efforts and amazing content. I'm not a US resident, but watching your videos is a great way to get new knowledge, learn some details about US life, and improve English skills.
That is what I'm talking about brother, this was a good video. I hope this gets you as many views as the car dealership video.
I appreciate that!
People stop painting the cabinets and putting down plastic floors. Painting institutional grey is the worst.
One of the best videos about flipping very detailed and lots of information
your best video yet.... great education
Thanks for watching! It was a long one to film (took about 6 weeks) but worth it!
Way to FREAKING go getting the info Marko.. ! Seriously. You asked all the questions that we'd want to know and THEN SOMEC
Why would anyone give this video a thumbs down. This is amazing stuff. Thank you guys for putting the stuff together as it seems to be some of the best content out there. Love the fact that it’s real world examples and it walks you through the different phases of a rehab.
Good teacher. Thank you. I wish you good wealth good health.
Absolutely saving this video. I like your style and I am copying lol. So many flips look the same today with the grey flooring and white walls. I needed the ending!! Tonight is the night I decided I am going to stop being scared and go for it. Then I stumbled upon your videos! I am going for it!
i use photoshop to flip anything
Please make more videos Like these...You have the best channel out brother
Ty
Need more vids with this guy . Love the transperancy
Smart Man !!
That’s crazy I’m a Marine recruiter and I covered Strongsville for the longest. Lots of money in that area.
never thought that I would like black hardware but you just made me love it... reconsidering the hardware in my apartment.
Doing it debt free is probably the best way to do this. Very interesting video.
Thanks for watching
We bought a house for my dad, he's 85 years old back then. We did a remodel on it, bought it for $34k, put in $10k, and he moved in. It's worth $105k few years later, the area came up a lot . The most important thing was having a reliable, honest, and qualified contractor /s. If the contractor is shit the whole thing will be a disaster no matter how good thenprice or the neighborhood. Also we looked at other flips that you can see the poor work, I mean people just paint, carpet and list. That's not a flip anyone wants. Take the time to do it right not cheap.
Awesome vid on flips! I'm a realtor and this vid simplified things for me and will do the same for my clients. Thank you guys!
Glad it was helpful! Please share
This video was GREAT!
I needed to see this video, time for me to start taking action!
Spectacular job💯🔥💪🏼🤙🏼👍🏼
perfect ending advice.
I have been recently thinking about flipping houses. Part of the reason is I can do half the work. I am one of those people that researches too much and never gets started. This video has convinced me to do it!
This is an excellent video. Along with Roman's advice to just act, I would suggest that you must be able to withstand a loss or break even flip. Things can change quickly, like we saw with the pandemic. Also, I have done this five times now, and I'm no pro, but I find buy, fix and rent then refinance or borrow against the new equity to be a better long term strategy. Roman worked his tail off for six weeks to make $15K, before taxes. That's good, but not great for a guy with his skill and work ethic. Also, finding a distressed house like the one in the video for $135K that doesn't have any major issues is rare.
Please do more videos with Roman.
I thought it was 55k
It's 55k profit.
@@benjamindelannee3501 Thats huge for me! I dont know for 6 weeks its a lot :D
Would be interested in learning about your first flip/deal. Seems to me like the first deal is probably the hardest
Michel Diaz I’m assuming he’s using a hard money lender. He doesn’t say though.
all that work only cost 30k?
Not today it doesn’t cabinets alone are 6k minimum at Menards not including labor ..
Quality work I flip houses as well I see so many other people that just do terrible work
You need more off market deals?
@@connerstevens5215 yes always looking for a deal
I’m in Michigan im going to move to Ohio just for this guy
Love the final house, you brought so much more life into it! Amazing how some simple changes can really make a home POP! Love that black granite sink too, going to have to consider that in some of our future flips here in Tampa!
Beautiful beautiful job!
first time viewer of the channel. I really liked the video.
Great advice as always, Marko! Would love to see some more “beyond the whiteboard” vids in the future!
Thank you!
Where do you even start in the process of getting the home and wanting to flip? Are there loans you get is it with your own money? How long does it take to do a renovation? I have soo many questions😭
Came out beautiful
Thanks Marko and Roman!
my pleasure please share
Humble
This was excellent!! Thank you!!!
very informative vide, all straight to the point 👍
Great job i love the sink and the black fossets, blue colour in the bathroom isn't my taste but looks tidy
Might have to keep this video on the like list to come back if the housing market collapses 😝
gold mine :) so many foreclosure homes coming your way.
LOL!
I've done a couple reno projects before but nothing at this scale. All of mine were under 20k total cost and mainly was cosmetic repairs carpeting painting new kitchen etc. Thinking about chucking a bit of cash into something like this and doing it up as a project. Very informative video.
Love and appreciate and actual detailed informational and before/after video 👌🏽
This was great!!!
Dang! Nice job! 💯
Aircraft cable ropes on the staircase.
Good choice. Ooo white shaker, furniture., great.
Shaun of NYC
Cool!! Thank you for the video!
Watching in 2023..
Great Video 😍, 50 million unemployed people can start building houses from scratch or fixing up rehab houses
Fantastic video!
Thank you for the video Marko. You are a professional sr
excellent job on the house!
Thanks for the sharing of a profitable business with such sensitive information
Our pleasure!
Great video Marko!
Bro I hear your voice on every TH-cam video I watch now: "SO LIT MOBILE JUST SENT ME THIS SOLAR WIRELESS BATTERY PACK, IM EXCITED, LETS SEE WHATS INSIDE!"