The Truth About Flipping Houses That Nobody Tells You! 

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

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

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

100k in 6 months is a win for you

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

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...

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

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

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??

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.

Thanks for the info

Thats very good money for me 😁

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

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.

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.

Didn't know frank lampard flipped houses

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

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!

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...

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.

How about your selling cost and money cost?

Why would you pay for points on the loan if it’s a flip?

6 months is a bit long. Could you tell us how you could do 3 months next time? Like was there delays from various sources and did the contractors come when they said they'd come?

Still a 30% CoC

Here's the truth: , THE MARKET ID ABOUT TO CRASH

I’m cash flowing till I can get an equity loan.. then use that to work on the next

How much goes to Uncle Sam?

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?

That's why you need to take multiple projects so you would have a decent income

Why did it takes 6 months to recoup the rest of the money and how exactly did that happen?

How about 0 to 10%

That’s not a great profit considering your pay short term capital gains and other fees. If you’re doing volume then it makes sense. Thank you for your honesty.

Not bad $200,000 for a year

how is 100k in 6 months bad??????

Why did it take 6 months to flip? I am just curious, was it the contractors, etc..

I mean dirt cheap

I don’t get it lol what was bad about this

Whaaaa! It took me 6 months to make 100k! Poor me!

I find deals let me know anywhere in the country

If you used a realtor you didn’t get $100k probably more like $70k

Im confused...you didn't actually tell us a hard truth or whatever... The truth is you too can make 100k in six months if you have 330k just laying around...

Wheres the truth no one told me? Sounds like hes just flexing while downplaying it

What do you mean it took you 6 months to recoup?

Couldn’t I do multiple houses in said six months if I paid a little more in labor