House Flip on a Hoarder House After the Repairs
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- เผยแพร่เมื่อ 1 เม.ย. 2018
- This was a crazy hoarder house when I bought it and you can see that video here: • Fix and Flip on a Hoar...
You can find information on all of my house flips here: investfourmore.com/flips/
You can find the video training course on flipping houses here: shop.investfourmore.com/produ...
I bought this house from a wholesaler back in December of 2016! The house was a complete disaster and you can see the before video here: • Fix and Flip on a Hoar...
The house was bought for $85,000, and we ended up spending close to $100,000 on the rehab! We had to repair the foundation, lift the house, re roof the house and garages, install new floors including subfloor, new floor joists, new electric, new plumbing, new drywall, new HVAC, new windows, new doors, new kitchen, new bath, new paint, and just about everything was replaced.
We have the house listed for $249,900 and we also had about $20,000 in carrying and selling costs as well. We had to use multiple contractors on this house as the first ones were fired. The second ones were super slow, and the third ones finished it off.
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Needs a sidewalk of some sort, it will be a muddy mess when it rains
It's funny how people think the value of property is the same everywhere as where they live, LOL.
Remarkable, you saved this little home. to have it over a year and make it look wonderful. It's amazing piece of property. Good luck with finding a new owner on it, which should be no problem now.
Thank you
The price value inflation sometimes is crazy. For 250k in SC it can get you a nice new 3000+ sq ft house for the same amount
True, but in Cali the house would be $700k
Yes, but with an acre of land too?
@@investfourmore depends where, if found somewhere like Orange Co, it would be in the million range, and in other spots maybe less than what you paid for it
Miracles are your forte`. I thought you 'd lost your mind when you picked this up. but you've proved me wrong once again. It's a cutie and the property next door is going to be a new build I have no doubt. If I had a hankering to move to Greely area I'd for sure look you up. Thanks for another fine video. Best of luck in the future.
i think you guys did a great job. while the rooms look a little small i do love the detached car garage and workshop garage. think a larger front porch even a screened in full front porch would add value and curb appeal either way still good flip
Not a screened in front porch but a screened in back porch. And maybe some sparse landscaping would be nice in the front.
This shows how different taste is on these houses and why we do not do things like add porches. It is in winter in Colorado so not much we can do about landscaping right now.
Mark Ferguson - InvestFourMore Yup I totally agree. Keeping it simple appeals to the masses and keeps costs down for you.
Thank you for saving an old home, and hey i really like this house! Not a big fan of that location of the water heater, but easy to get used too. And all it needs is Backsplash and granite for the counter tops, and this would be a prefect starter home for a young family! Great house for the price! Just needs some touch ups like popping off outlet covers, siding on the one side where the huge tree is. Nice job on the house! I trust you because your honest, and make people go back and fix things and you dont say fuck it.
Thank you
What a difference from the before video! Great job, it looks great and will make someone a beautiful home.
Thank you
I am extremely Impressed !! I saw the property Before, and oh my .... how you managed to make this horrific place a beautiful home, is beyond Belief. :).
Well Done!! ⭐️🌟⭐️⭐️🌟
I commend your marter-of-face, professional attitude toward this (quasi-nightmare) 15-month total rehab you.
I realize you may have had more than a few choice words to say about the contractors screw-ups and the expense and duration of the project, but you maintained your professionalism at least during the filming of this video. Kudos to you for your professionalism.
Thanks, never helps to get angry. At least very rarely
Beautiful little home. Great job
thanks!
Man, you’re really pumping these out lately!
Yes, they seem to come in bunches!
John, you should do this too. I know you can do it. maybe learn a bunch but I think you like a challange
Looks pretty good ! I hope you make good money ! Dont listen any haters !
Thank you
Great job!
A nice starter home
That is pretty much a brand new house. Looks great.
Very cute house for a starter home for young newly weds. Land has tremendous potential! Could be very charmingly decorated and landscaped. You did an amazing job as always! I’d buy one of your homes in a heart beat if I was living up there. Would probably be the first resource I’d look to find a house to buy
I saw the before video. Man you sure like a challenge! I wouldn't have touched it. But this looks amazing!
Thanks!
Wow! Are you sure you didn't demolish the old house and build a new one!? This looks amazing. You are very good at what you do
Thank you, I know it was a doozy
You did a excellent job on this, one thing I might have added was maybe a private wall fence so you would not have to see the eye sore house across the way.
True, but that would have been pricey for that length of fence
anyone else see the lights flickering at 7:55 could mean something supernatural
This is a nice little house. Plenty of places to store things, without the use of a basement. You can rent it out, make sure you check there background, you don't want somebody in there that has priors.
Fantastic job, great little house. Just needs a small lawn/garden and a nice fence and some sort of driveway or walkway and it would be perfect. I'm curious what your opinion is on condos/apartments; do you ever buy those?
sometimes but not often
Very nice and that lot is a big plus!
Thank you!
Terrific job
Omg. I just looked at the before video!
Yes, it was rough
The darker trim with light walls looks really good here.
Thank you
Beautiful job on the renovation.
thank you
Ruby Red is right needs sidewalk from back door to garage and also needs paved driveway for that kind of money. You could put up fence to obscure neighbor view.
Didn't have to
It’s so small why wouldn’t you open up the living room to the kitchen?
Don't need too to sell it
Wow! Nice!
This is a great deal for a potential buyer.
What a transformation!
Thank you
i really like those rounded doorways or the doorways with venetian panels in them
Mark, do you think that it would have been cheaper to buy an empty lot of land and build a house from scratch?
No, minimum cost to build right now on a small lot is $300,000
I like what you did with the yard
It is winter in Colorado
Another amazing rehab! Could you please start adding final selling price in description?
We do in the complete before and after videos. This one sold for $250k I think
Wow. That's a transformation! What made you decide to take it on?
Temporary lapse in judgement
Wow!!! You did a great job. I saw the before.
Thank you
wow huge changes it is so nice now
Thank you
An amazing rehab. Given the amount of work, time and cost involved, would you have been further ahead to demolish it and start from scratch? Just wondering
Maybe, but cost to build here is astronomical with permits and labor. New houses with less than a 1/4 acre are $300,000.
What a sweet little house for a starter family
Thank you
such a cute place. looks to have a nice size bathroom for a small home.
Thank you
Looks great
Thank you
Are you going to cover the rafters in the garage? I hope the new owners put some grass down, It will look good then. You have done a great job re-doing this house. :)
I would think it could have been cheaper to rip down the house and start from scratch, but if I understand your situation you hire contractors to do the work. I have worked on a rehab crew and I do my own construction.
An educational experience for sure. Seems things have to be painful and/or expensive for us to learn!
Sometimes, yes.
I wish you came to fort worth and rent a house and did work on some I would so totally rent. I love your work 😍
Thank you!
When was that little house built?
Maybe you know this maybe you don't. But what would you say is your average cost just on labor to do a house? Or rather, what percentage of the budget goes to just labor? I'm just curious because obviously Colorado is expensive to live in as far as housing goes so I'm sure your contractors are taking out enough profit to afford their own homes. But in other places that aren't that expensive to live in, I'm curious as to what the difference in cost would be for a remodel.
It really vaires on every deal. We use a lot of subs as well so that messes up the percentage. Usually the labor is more than the materials.
Your not just flipping a house when you flip a house. Amazing work.
Thank you!
Good job😆
did you sell this one mark?
I watched the before video how much did you pay for the garbage removal my gosh never seen that much garbage
It was a lot. Something like 4 huge dumpsters
this was a good job.
Thank you
I wonder if the owner could build another house on the lot? Such a tiny house on a huge lot is a pity. 😀
Nice tiny house still & lots of storage in the back.
What's the percentage of taxes you have to pay on a average flip to the government? I was told it's 50% if you sell it in the first year you own it.
No, it is ordinary income so whatever you normally pay on taxes. With the new tax code it will less if you use an S corp
Those little sheds could be turned into rentals. Nothing like having tenants pay your mortgage for you.
True
For some reason, I really like this house. Maybe it’s the “cottage” feel I get from it. In my current neighborhood, you’d definitely get that price for just the house and a scrap of yard around it. For the whole thing, you’d get over a million, and they would put 4 McMansions on it. I’m in a 1200 sq ft townhome that goes for $280,000. Thank God I got it for half of that.
Thanks, it sold and we did well on it.
I bought a fixer upper last year and want to re do it. Do you have connections in Texas ?
I do not sorry
Have you found anything valuable (artifacts, national treasures) in the mountains of things people leave behind? I feel like American Pickers would love you!
I let my uncle sift through the stuff and he found a few things, but nothing spectacular
I would have bought it for 249! I would love all of that property.
RJM@54 3/3/2018
what is that hanging on the wall in the
living room above the base board heater
Its a flue. There was probably an old propane heater or wood stove at one time.
just curious , why don't you like the counters? thought it looked nice
not my taste
@@investfourmore maybe they looked better in the video
Did I just see the lights flickering while you were outside of the house looking at it? Maybe it was just the glare.
I think it was a glare
Very nice...i really love this house...when do i move in? 😜
Haha, thank you
In my area, with an acre, that property is worth $500,000.
Count me in, Baby !!!!
Another great video Mark.
If I may ask, if you receive full price offer, minus Uncle Sam, and misc. fees and costs, your Net profit about $30k for this flip? Thank you again in advance for your time and consideration!
I am not sure why everyone deducts taxes from the net profit. Yes I pay taxes on these, but when someone makes 100k a year at a regular job they don't say I make $70k after taxes.
Mark Ferguson - InvestFourMore Thank you Mark. I also agree with you on the Fix and Flips Realty shows on TV. They are edited and scripted..I tell my friends the banks sell those shows to get rid of foreclosed props.
Would you be able to or do you have videos with the Demo and remod phases? if not no big deal
Thank you again for your time and consideration!
You should have extended the deck the whole front of the house. It would have looked better, and not so cheap, as well as the flooring. It would have been nice to see the laminated flooring extended throughout the house
A lot of people do not like it in the bedrooms.
Exactly.... Our family can't stand laminate or hard surface flooring in the living room or bedrooms. When you live in a cold climate like Michigan, it's a no-no for alot of people.
Why on earth not put the electric heaters under the windows so they arent limiting the possibility to furniture?
Nice job. The layout is odd though.
Not sure where this is but no way is one tiny baseboard heater enough in most parts of the u.s. looks awesome though except the grass or lack thereof
We used a HVAC company that we have used for years and let them decide what to put in. We are in Colorado and it has heated the house fine so far. We can't put grass in in winter in Colorado.
Mark Ferguson - InvestFourMore yikes i work in apt maint in indiana and our 1 bedroom apts with baseboard heaters have 3 times that in them
I've never seen a house that didnt put the baseboard heaters on the exterior walls, and certainly never seen a house with a tiny 4 ft electric baseboard heater trying to heat a living room.
Anybody else see the flickering light in the 2nd bedroom when he was showing the outside? Mmmm, new wiring? Worrisome. It did turn out looking a lot better! Hopefully neighbor tears down that house so your house will look even better. Good job.
Did it sell right away? Did you get what you wanted?
Yes and yes
Wow. That was a long project.
Yes it was
8:18 - 8:21 "No one should have anything to complain about, but I'm sure they'll still find something."
Yeah:
1. The drive way (and the walk way from the front door to the drive way and city side walk) is not paved.
2. No utility sink for the utility room.
3. No over hang for the porch.
4. No garage door for the second garage.
5. It's so small, I can see only an elderly retired widow living alone there.
That's five things.
But, it's still a nice house. Great work.
What about the kitchen counter top did you not like? It looked ok to me. Maybe because it blends in well with the way this house was done.
The previous owner seemed like an interesting character. She obviously was a hoarder yet left everything in the house once she left. Did she take the dog too?
Yes, she took the dog. She claimed most of the stuff was her dad's who had passed away years ago
what is a "Hot water heater"?
haha, everyone calls them that here.
At 7:52 you see the lighting in the house all begin flickering at the same time, what Mark hasn’t told us is that the Little house on the prairie is haunted by the hoarder lady’s dead husband and he’s pissed that all his junk got thrown out 😜
haha maybe but I don't know if she ever got married. that was her dads stuff
Mark Ferguson - InvestFourMore See! Call the Warrens, sell the movie rights, and make millions on the next installment of the Annebelle series!
Billy Masoner yes, he and his seven buddies....the'll keep searching till that garbage is found or replaced....they are in no hurry 😜
It’s so easy to make money from property in America so long as you grasp all the weird terms like drywall, fix and flip, vanity etc 🤪
I would not say it is easy
What state do you flip houses in?
Colorado
Rustic neighbors. What kind of contractors do you call to jack up a house?
Most of mine know how to do it, but concrete or foundation guys can almost always do it.
What state is this house in?
Colorado
William Shaw. That's what I was wondering also. I never saw where they are located.
It must a real pain for all these darned people getting in the way of getting rich.
OOOH I want to hear the reasoning behind this comment. Please explain.
That kitchen counter is hideous. Why do you always cheap out on bathroom vanities? For just a little more money, you could have bought a semi-custom vanity that had more counter space, making the bathroom more attractive. A medicine cabinet would be desirable to buyers. As it is, there's very little storage.
I like your work but I don't like the bathroom right off the kitchen.
Can't fix everything
I would put a fence.
Sounds like you built a house instead of rehabbing one.
Almost
Too small. Still needs a lot and a tall fence so you don't have to see the junk next door.
One would think if you spend a-quarter of a million, you would expect some grass and a driveway!
Not sure where this house is but, look at the dump places around it. Would not pay that price. The rooms are very small and then if you do get a buyer they would have to invest more for fencing. I would not want to look at what is across the street. You state i did this and added that which made the price go up but, that was your choice. Asking too much but, what do i care. Not me said the little red hen.
It sold for asking price
What happened to the dog?
The occupant took him.
Yay! I've been waiting to hear since you put up the last video of this property XD
Gutters have to be professionally cleaned. Too much of a problem
This smells like Colorado.
Water heater! Not hot water heater.
Lol, everyone calls it a hot water heater here
Lol giving you a hard time!
Call it a Hot water tank :p
You are not going to get over 200 grand. You don’t even throw in a washer and dryer....no refrigerator."?.
You will get around 160,000.with comparable comps.
It sold for 250
Hi, great video, I love watching your channel, I'm big on DIY, currently I'm building a tiny house. You guys should come check us out!
wtf..in my country this house is 12000 euro..and i;m not jocking
What country?
Romania
only the house ..without terrain
Why don't you ever do any landscaping or driveway improvement? The houses you rehab always look great inside but the outside is almost always offputting. I've noticed as well that you don't put a lot of, or no, work into decks, porches or patios. Is this an idiosycrasy of you location or is it just your personal choice? Also, and I realize this is a minor issue...it's just WATER HEATER, not HOT water heater. It bugs me every time you say HOT water heater. If the water was hot, you wouldn't need to heat it. Cheers.
We are in Colorado in the winter and cannot add grass right now. Plus we can only make so many improvements before we stop adding value to the home and only increase costs.
S4
YUP