Tri Level House Flip After the Remodel and Staging Bought 12/2/2019

I bought this house from a wholesaler for $181,000 a few months ago. The house did not need much work compared to some of our projects, but it was super dirty! We painted everything, put in new doors, patched some holes, put in a new kitchen and redid the bathrooms. The house looks great but we ended up losing one of our contractors/employees during the process.

I think we spent about $25,000 on the repairs and we will have another $25,000 in selling costs, carrying costs, and financing costs. We are hoping to sell it for close to $300,000, yes even during the turbulent times we are in right now. We will try to keep everyone updated on how the selling process works since we are not sure how it will go either.

We had started one of our employees on this house who had worked with us for years. He had always been dependable and appeared to enjoy working for us. We noticed a few issues lately with him not working as much as he had. Then we hired another contractor to try out on this job. We were clear that the contractor was just starting and we wanted to keep an eye on him. Our contractor pretty much stopped working from that point forward. He said he was sick for a week but never told us until after it happened. He then disappeared again for good but managed to take all his vacation time and sick time before leaving. Smart on his part! He took all his tools and refused to respond to calls or emails from us. Luckily the new person we hired has been doing great.

You can see the before video on this house here:    • 20th House Flip Bought this Year Firs...  

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped over 180 houses and routinely flips 20 to 30 houses a year. Mark owns 20 rentals properties as well including a 68,000 square foot strip mall. Mark is the managing broker and owner of Blue Steel Real Estate. Mark is also a member of the Forbes Real Estate Council.
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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