bright side is since you kept it for over a year you wont have to pay short term capital gains tax on the sale which will probably save between like 5 and 30%!!!
I am really surprised at how you were able to keep costs down. I think you’re doing a great job. Definitely a different take on flipping a house. Totally different mindset which is inspirational. Well done!
Last year I ripped out all the copper lines and replaced with pex. 4 bathrooms, 2 full kitchens, a laundry room, etc and I paid 1800.00 for all of the materials and then worked on it for 2 solid days. All the quotes I got were between 12000 and 17000. Doing the work myself saved me 10K easily.
$25k is not much at all since you touched about every surface in that house. Wrap it up, sell it, pay taxes and bank what’s left. Kudos to both of you for sticking with it.
My hubby & I built a huge, all brick home in 1980. We were 21 & 22 yrs old. We did it all ourselves (except lay the 22,200 brick..we got masons who did it for $2,100..😳) We took out a loan for $46,400. We sold it in 2022 for half a million dollars….
I love your wife's t-shirt, "Get used to different!" Couple questions regarding the house flip: 1. How much did you pay for the house initially? and the goal was a $20 flip. Did you make enough money in your sales to justify the $25,000? Last Question; I heard a cost for the kitchen counters and sink, but I never heard a number for the cupboards/flooring installation for the kitchen.
I can only answer one question: they made enough money in their sales. But if they are going to make enough money in the sale of the house, I have no idea.
Thanks for sharing this. You and Hayley are my kids' age, I'm guessing and I'm thoroughly enjoying the series. As you come to the end of this series, I'm feeling a little bit of nostalgia. Hopefully you guys will come up with another new project similar to this one to keep us entertained and to help you all add to your retirement. :)
I thought you would spend way more money on the renovation! You guys have done great with this project! Thanks for the video, it was fun and fast paced as usual!❤
That's lower than I thought it would be. We renovated our entire house and were closer to 60-65k. Hired a lot of projects out - new ducting, removing all the flooring, installing kitchen & bathroom counters, drywall. Did it during the pandemic and at that time, prices were high and labor was hard to find. We also had to live in our outbuilding while we renovated. Made us feel like we were "urban camping". After that experience, I NEVER want to remodel another home. 😂
My brother has 5 houses, he’s 70. He wants to sell. He’s sick of the repairs people have caused. On guy threw cement down the basement toilet! Just sell and get your money, rents nice but people will not appreciate a nice home.
I grew up in construction family. My dad and two uncles were in construction. Had an uncle who was plumber and father-in-law was electrician. So I know what you are talking about. You have done great job.
The work you personally have done in the house is most likely better than that done on HGTV. Used to watch it all the time until I had my fill of those Property Brothers. Congratulations on an excellent job. Look forward to seeing the finished product. Going to be beautiful!
Hey Josh and Haley!!! Excellent job keeping those costs down! I bought property with 2 homes in NE Texas and one house had to be completely torn down due to horrible black mold 🪨and totally rebuilt. Husband and I are living in our 34’ motorhome FOR THE PAST 21 MONTHS 😳🫣 hoping to be finally move in ready by July 1. Which, if you can imagine the heat and humidity at that time of year, WILL BE SO MUCH FUN (N O T !) I don’t even want to see what we have spent - but I know it’s north of $180k🤦🏼♀️💸💸💸 GOOD FOR YOU in keeping your costs controlled. You will reap wonderful benefit$ and reward$ once it is sold. 👏👏👏
Also, kitchen cabinets, paint (inside & out), kitchen flooring, front porch metal work... you did all of that work (the two of you) that I remember. I'm not sure about appliances and fixing the hardwood floors. I guessed the upper 30s. Great job. Will be fun to see the final tour. Great time to sell! Congrats/good luck.
I think that the House Project has been fabulous - so much fun to watch your progress! And what an awesome way to prove that thrifting can be so financially rewarding! Thanks so much for taking us all along! ❤
You both have done a Fa nominal job on that house. I am happy your almost done and can rent it out. Well done you both. Thanks for always taking us along in your journeys. 🐩🐩🐩🐩🐩🐩🐩🐩
Great work Brother and Sister. Fantastic! Thanks again for sharing Your passion and adventures from Toronto Ontario Canada 😎👍❤️✨️✨️✨️✨️✨️☕️☕️☕️☕️☕️✨️✨️💯💯💯💯💯✨️✨️✨️
GREAT video Josh! Been looking forward to this one and I think you did an amazing job! On the flip house and video. Super jealous you paid cash for the house but that is the smartest way to do it! I enjoy these videos and and glad you did it. I think the design of how you did the flip house is a wonderful tool for you guys to standardize your projects. I nailed that like button!
Almost 🎉 Congratulations 🎉 Nearing The End! An amazing amount of intestinal fortitude as well as physical & mental toughness to get to this point! A couple of cocktails in the porch before you leave if your still enjoying Bangs or Truly’s! Kind of know the pressure of a project like this finished a renovation/addition, a laundry list that still makes my head & wallet spin😵💫 All The Best! Be Well Be Safe & Stay Blessed.
Great job on the house. Great video! I flip houses and you did well financially speaking and it does cut costs when you can do work yourself. Looks great!
I think you have done an absolute fantastic job with that house. I've done some of the jobs you guys did and yes, it is a lot of work, especially when you don't have the experience and even sometimes the tools you need. As far as the money, I think you have done well to do all you have done for that small amount of cash. Yes, Josh, it makes a HUGE difference for any work you can do yourself and this is where you and Hayley have risen to the challenge. Perhaps a year or two in the future, something will go wrong with the house you are living in, and since you may have fixed something similar in this rental, you will now know how and will have the confidence to go ahead and fix that problem also, again saving more money on your own house. Knowledge never comes in amiss to say nothing of the boost to your self-confidence, because now each of you will think ''hey, we can fix that ourselves'. That alone is worth a lot, even not counting the dollars saved. Whether or not you ever attempt something like this again doesn't matter, because you two have done a FANTASTIC JOB now and that is something you can always be proud of. I've followed you through this whole process as well as your regular videos and I have loved each and every one. Keep up the good work, you two. ( ( :>) now get back to work and sell some more items to finish remodelling the house. {:>) Whatcha fooling around for? LOL LOL )
I think around $25000 is excellent, it's always cheaper to do the work yourselves if you are able.Don't forget Hayley's excellent painting skills! A painter would have cost you a fair amount for labour. Your land, water and power charges are very cheap! I live in rural South Australia and our charges are land (Coucil rates) are around $1600/yr, water approx $90/month and power ( before we had a solar system with battery) if we didn't have ther ooftop system it's around $850/3months, for two of us in smaller house than that. It's interesting to compare places even though it's a bit like apples vs oranges😁🦘🦘🦘
Josh well done on how you are flipping the house. All the work you done yourself. Saved you and Hailey a lot of money. God got your back. Keep being nice people. Good things happen to good people.
Thanks for your time and video. I thought you would have spent more. I also think you should consider doing it again in the future. I believe it would be a great charitable project ...for your area. Perhaps for a disadvantage family or ,raffle,!!
I think what you’ve done with this flip is Amazing ! Especially using $20. To start the flip budget, earning as you progressed, and continued working your ‘regular’ job at the same time. I think the budget amount is awesome. I do have questions about the stove and fridge, were they in the miscellaneous category? Also, if you were to calculate all of the work hours you and Haley spent and multiply by what your hourly rate would be, I wonder how much that would add to the budget. I think it would be a significant amount. There is only one thing I would have done differently. In real estate, neutral colors sell better. So the kitchen cabinets, while being a great color right now, won’t be in a short time from now. This is an easy fix so not too big of a deal. The other are was the bathroom, the wall paper is not easy to look past. It’s a very specific style choice, which makes it not neutral at all. While I imagine it was a lot of fun choosing all of that it could put some people off, more a buyer than a renter. Having said only two things that could have been a better choice it’s absolutely Amazing what you have accomplished. Would I ever flip a house? Absolutely Not. Lol. Too much work and stress for me ! You guys are the best ❤
Another cost you forgot to add is the interest you could have had on the money you paid for the house and everything else you spent money on...but, wait till you flip it to see if it was worth it.❤
Then there's rent or profit from selling that you could have made if you'd finished it right away. Are you going to do it again? Think about paying out more for goods/services to get it done quicker. Very Dave Ramsey-ish of you! Dave would love this!
Curious. If you did another house flip, do you think you would hire out all the work? Opportunity cost of missing out on at least 12 months of rent and having to carry utility costs for that time might be about the $ you saved by doing stuff yourself. Although, learning to do everything is extremely valuable, especially for determining if contractor quotes are reasonable in the future. Great content!
I still really hope you sell the house outright as opposed to renting because that will help you make a tidy little profit and really actually be done with it!
Josh, for all the renovations you and Haley have done $25K is not bad. My mother had her kitchen redone in mid-1970s and she spent about $15K back then. It was a medium sized kitchen, nothing fancy, and a family member did some of the work.
Little more little less. No matter. We have a good idea thanks. Please let us know when house flip will end. Looking fwd to that and what project will be next😊
U two did an amazing job on the flip house. For the he kind of work you did, I expected at least double what you spent. Personally i would have picked a flip house that didnt need so many extensive repairs so i could get it back on the market in 30 to 60 days. But i get it, you turned it into video content with only a $20 flip. I hope you had good ratings with on these videos. I think you should sell it & use proceeds to buy another one, that is not as trashed as this one was & show viewers how you can really make money Flipping/Reselling houses in 60/90 days.
I am glad that you decided to resurface the floors ... a good investment. Congratulations on nearing the end of the project. I live in Portland Oregon and rentals here are, well almost out of reach for most families. How are rents in your area of the country. I have throughly enjoyed all the videos. The house flip is a nice diversion from the routine of "pickin' and sellin' " (lol) John Fisher Portland, Oregon
What about the cost of refinishing the floors you discussed earlier in the video. I've flipped three houses and we've always refinished all the wood floors ourselves. I hate refinishing floors, but hiring it out would have been crazy money every time. I've also used Habitat for Humanity Restores to find amazing things that we could up cycle or even find new, for huge savings over buying new. Kitchen cabinets, vanities, windows, sliding glass doors, sinks, toilets, tubs, showers, tile, counter tops. I always find it amazing what folks with way more money than sense will donate because they just bought a house with a remodeled high end kitchen or bath that doesn't fit their aesthetic, so they have Habitat come and rip it out so they can replace it with what they do like! Their craziness is always my gain! 🤪🤪
I'm shocked at how little you've actually had to spend. I think you've done an awesome job. Yeah...the county gov is a bit of a scam. Well, all of the gov is to be perfectly honest, but I won't go there hahahha. My only worry is this market can't maintain this level. I hope you get done and sell soon, tbh. I want you guys to make the BIGGEST profit so that you feel like it was all worth the huge amount of effort and sweat equity you've put in. Thanks for letting us come along on this journey with you. Very, very cool concept and it shows that you can set a goal and truly achieve it with reselling (yes, I know they've got a huge following and that helps, but they worked hard on that as well so stop it). Love you so much!
Great video! I always have to do mental math to figure out my profit but I deal with cameras and electronics. I am usually figuring out how much I can sell something for and how much I will get from eBay after they take their fees. All part of the fun I guess!
To tell if wool has shrunk, put the cloth up to your ear and pull the material in opposite directions with your fingers. If you hear a crackle, you know it's shrunk. Heard this from another streamer. :)
I wish we had shops like goodwill here in the UK. Shops and bins. Would be aewsome! We only have the odd large / super store charity shops (Thrift for USA) over here
JOSH!! Sell the house!! Renters will ruin your life!! Take the profit and buy TESLA stock!! I only suggest this because you can look back(if you do not purchase TESLA)!! Present day price is $177.48 U.S. dollars!! Keep up the great content and all the best to your amazing wife!! Greetings from Canada!! GIDDYUP!!
Hello. I have 3 questions: Is the flooring included in the miscellaneous expenses? Have you decided if you’re going to sell it or rent it? How much did you pay for the house? Thanks for bringing us along on the journey. I love your channel and your content.
I, being an ex-realtor was over here going, come on Josh, you got 16 months of mortgage, utilities, taxes, and then you covered that soooooo.....didnt know u paid cash, nice!
I'm in the middle of clearing out some excess stock and make room for the higher quality items I have gotten in on the Whatnot scene and done my very first show So now I can focus on eBay and Whatnot but only focus on the area's that have worked well and what people on whatnot are interested in
