How To Start Flipping Houses (70K First Flip)

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In this follow up video, I'm going to show you how to start flipping houses with my coaching client Gary. His first flip should net him $70,000 and he's only been at this for a few months. If you're looking to get started flipping houses, watch this video now.
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Опубликовано:

30 сен 2024

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Комментарии : 41

@jamelgibbs 4 месяца назад

↓Subscribe for more real estate investing tips↓ reieducationacademy.com/RU-vid-Subscribe Also, share and leave a comment below.

@InvestInRealEstate852 2 месяца назад

I am looking to do my first flip, so the brother done a good job. I think he should talk with more hard money lenders and they should at least fund the entire renovation, based off of the contractors estimate that you decided to go with. A good hard money lender would want that contractor to break it down to a "T" and escrow the rehab and will not let you pull funds until that scope is done. Its cumbersome, but it protects you as the investor. Now, I am wondering what was your down payment. Either way its good that you have capital and that is a relief. Moving forward, I would not have that much skin (money) in the game....search for more hard money lenders or private lenders that is more investor friendly. All in all, awesome job brother...lets get her sold.

@addiewhitaker3874 4 месяца назад

IAM so prove of you son you make me happy you are doing good God is good all the time love your mom Addie.

@tonytucker8651 4 месяца назад

This is why I dislike coaching and salesmen. Ultimately you are a salesman. He is not making 70k. Short-term capital gains taxes exist. So, he grosses 69k, but that is not his net. Also, how did you all magically come up with an appraisal of 25K higher 😂😂 without the realtor finagling the numbers he should gross 44K. Which isn't bad, but most of your audience won't understand this. Also, his having to use credit cards, HML, etc is a quick way to bankruptcy/failure. You don't mention how much you made for the wholesaling fee. He seems to be happy but has not sold the property yet. He doesn't know what he will make after holding cost. There is a lot of missing/ misleading information

@jamelgibbs 4 месяца назад

I appreciate your comment. But this is exactly why I dislike these types of comments…. 1. Capital gains tax is obvious, but this video wasn’t a deep dive into the numbers. Also, I mentioned that I handed him the deal. Whether I wholesaled it to him or not is irrelevant. Also what I made is irrelevant. 2. You called me a sales man. Real estate is sales.

@tonytucker8651 4 месяца назад

@@jamelgibbs Real estate is sales, but you are essentially taking high-risk individuals and combining them with high-risk debt all while making a profit whether the flip is sold or not. I reckon they are consenting adults

@zachdollar21 3 месяца назад

$69k would be his net profit margin before taxes. No business refers to post tax, take home as your net profit. You take the gross margin and deduct all expenses, then you have your net profit. After you have your net profit, you pay taxes on that amount. I think you may be confused on the difference between net profit and take home after taxes.

@jamelgibbs 3 месяца назад

@zachdollar21 BINGO!!!

@evefavorse5939 4 месяца назад

Congrats Gary! That is an amazing achievement!

@EliteClinicalResearch 4 месяца назад

Congrats Gary ! Get it on the market and make that money! Job well done!

@ngshomes2906 4 месяца назад

When you say stuff about how it looked before you show show visions and pictures of it before while you say that. Like aww man the back had this and that back there it was a mess “Flash the picture” I think this would be more attractive to the viewers I flip so would love to see before picture flashes as you walk through.

@ngshomes2906 4 месяца назад

Great great video though loved it !! We’re is the before video ??

@jamelgibbs 4 месяца назад

Appreciate the feedback. I don’t edit the videos, but we did add the previous videos in the cards for your viewing.

@BenRomu Месяц назад

Hi Jamal. I wanted to know how much your coaching program cost, real estate investing has always been dream of mine since I was in high school, however I’ve always been to broke to even try it’s only now I’m beginning to learn about hard money lenders.

@courtneybanks9 3 месяца назад

Do you recommend using contractors or subcontractors for flips?

@stevealston5153 4 месяца назад

My man from the 757representing.Im so proud of you my dude !.Pops would be proud of you and Alberta

@skyrayne913 4 месяца назад

Awesome.I was waiting to see this.Congratultion Gary🎉

@philw9787 4 месяца назад

5 star video, show so much information, coaching awesome!!

@jamelgibbs 3 месяца назад

Glad you liked it!

@elishamccoll9616 4 месяца назад

Awesome...Go Gary. On to the next one !

@beautifulleee 2 месяца назад

What is whole sale houses

@ethanh7988 19 дней назад

you could literally google it

@iramcc409 4 месяца назад

Great video. Congrats on your first fix and flip. Excellent job! Thanks for this video Jamel!

@jamelgibbs 3 месяца назад

Thanks for watching!

@edlinemoise5725 Месяц назад

How can I get in your coaching program? I really want to learn and get started .

@jamelgibbs Месяц назад

reieducationacademy.com/coaching

@Daniel-jk9ge 4 месяца назад

The podcast would be great

@grabthemappodcast 4 месяца назад

The attention to detail and creative solutions in this renovation were truly impressive!

@dionneladson7443 3 месяца назад

Congrats on Gary's first flip. I think the Contractor didn't do the best job with all the mistakes and oversights, especially, the swing cord in the bedroom ceiling. Also, the shower door that's hitting the toilet should be moved to the right side and add a door stopper.