Dave Clabeaux Real Estate | David Clabeaux - My New Deal: Buy for 27k, Sell for 149k

I have a great new deal that I am working on with one of my partners.
 
Here are the details:
 
-We have a house under contract to purchase for $27,000.  We close in 7 more days.
 
-We got the house for pennies on the dollar. It needs work, and the seller needs money fast.
 
-It needs about $60,000 in repairs.  We will have a hard money lender I have previously worked with finance the entire amount.
 
-We have a contractor lined up to handle the entire project. We won’t need to lift a finger.
 
-I already have all the materials, finishes, and paint colors chosen.  I use the same ones for every project. All I need to do is email the list to the contractor.
 
-The rehab should take about 6 weeks.
 
-We will be able to sell the house fast for $149,000.
 
-After all commissions, carrying costs, etc, we should clear right around $48,000 profit.
 
Remember, you have to TAKE ACTION in order to make money in real estate. Most people do not take action, and therefore never reap the financial rewards.

My Life As a House Flipper

If you are like me, you have probably watched dozens of house flipping shows on HGTV.
 
You typically see an attractive female in charge of a flip, swinging a sledge hammer, getting her hands dirty helping demo the property.
 
This seems to be a bit of a stretch from reality for two reasons:
 
1.  As the person flipping the house, I give orders, and just about never use a tool or assist in any way.
 
2. My construction sites are typically lacking in attractive females ;)
 
All jokes aside, this is what my typical day as a house flipper looks like:
 
8 am: Check email to see of one of my team members has sent me a property. If the property looks good, set up a showing.
 
10 am: Hit the gym (not as often as I should)
 
11 am: Swing buy any active projects and make sure project is moving forward.
 
12 pm: Grab lunch. Kale salad with arugula sprouts and salmon.  (Also not very often. Basically never. In fact, I don’t even know if arugula sprouts is a real thing.)
 
1 pm: Go to any potential new showings.  
 
2 pm: Calls with partners
 
4 pm: Family time or personal time.
 
Keep in mind, when I first started and was flipping just 1 house at a time, I kept my day job and only spend about 4 hours a week working on that 1 project. That’s about all it takes on average.
 
Are you ready to start flipping houses?