The Truth About Flipping Houses That Nobody Tells You!

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[antonioramos]

6 months and 100k is not a negative, its not like you where busy anyways.

[renzovegas]

Slow money for wealthy people.. a lot of money for people just getting into the biz

[KingLos]

100k in 6 months is still over $15k/month and a great investment

[ILoveAnchovies]

Here’s the truth about flipping houses. The entire point is to buy as cheap as possible, repair as little as possible and sell as high as possible.
End result: Hi chance of the buyer getting screwed.

[johnanderson]

Just do what i do. i create contracts to sell peoples houses, then sell the contract to a investor i pay zero money to make a contract with someone. As an example of what kind of money you can make being a middleman, i just sold a contract to a investor for 7 grand the house is gonna sell for 790 grand im about to close on another contract i did up last month tomorrow for 5 grand i made 167 grand last year flipping home contracts you can do all this with no money and no licence.

[orlandorodriguez]

So in Michigan when you sell it cost about 6 percent for realtor commissions and an additional 3 percent for closing costs. So the closing costs are around $38, 000 to sell a house for 430k. After you pay Uncle Sam the take home on this deal is closer to $45, 000 on the flip.

[TahirAli-rihn]

I appreciate your honesty, most people think that it's an instant cash grab

[Someone-scln]

Ye but like, during that 6 month period you can make more money, by doing more jobs until the house sells.

[SantosCastillo-tu]

So if you sold it for 430K and you bought it for 200K and put around 130K! You start subtracting the outsale cost which is roughly around 6-7% including carrying/inspection report etc, your outsale cost is around 31k subtract that from the 430K you’re left at 399K, if you subtract your acquisition fee of 200K and subtract your construction cost your left with 69K in profit if you used your own money!

[MacherlaPrabhakar]

Not bad, if work with speed and good experience on market value.

[mtr]

Do you pay monthly payments on a hard money loan or you pay the total amount borrowed plus interest at the end of the term?

[valtterim]

100k for 6months is a nice profit... If you've calculated the selling too. You can make ~4 houses a year so it'll be 400k a year...

[ronnbot]

People in the comments be like "but you made $100k in 6 months."
He spent $330k and didn't earn anything for 6 months. Also, the $100k difference is before taxes, commission, etc.
A person with a decent job, could earn more money, get paid twice a month, without investing hundreds of thousands of $ every 6 months.

[Soul-wyxo]

We are middle class even when you work really hard and buy a house. We still stock in loan for years

[DrIpelengObGyn]

I’m starting this soon ! Wanna make it my thing 💪🏾

[pipesarayoficial]

How about your selling cost and money cost?

[TheBigBlackElephant]

200, 000 buy
130, 000 tune up
430, 000 sell

43, 000 in fees
Unknown sales tax for homes over 250, 000

So youre looking at maybe 375, 000 net? Which means you made like 45, 000 profit im guessing...

[mellymel]

So what’s the truth about Flipping Homes that no one wants to tell you?? Did I miss something?? What that it took 6 months?? I mean who doesn’t know that??

[abrahammejia]

Just use a private lender so you don’t have to pay interest or monthly or fees

[Westerdahl]

Whaaat? It takes time AND money to flip a house???? No
Genius.