Bad Foundation House Flip Update! Almost Done with The Drama! #208

This is a house flip we bought well over a year ago and we are almost done with it! This property had a ton of issues the biggest being a very horrible foundation. I knew it was bad and I made a low offer not really thinking they would take it and then they took it.

We bought it for $230,000 and spent $125,000 on the foundation repairs. We have also spent $40,000 or more on the rehab after the foundation was done. We will have a bunch more carrying costs, financing, costs, and selling costs. Overall, this was not a smart buy but we may do okay with it. There is a chance we could get $500,000 for it but we shall see.

We still need to make a few repairs, clean it, and stage it before listing it for sale.

You can see some of the before videos here:

https://www.youtube.com/watch?v=r_O8kSzpLSo&t=4s

https://www.youtube.com/watch?v=I1ehbGl4BrU&t=34s

https://www.youtube.com/watch?v=0BQbZDE_BiQ
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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped over 200 houses and routinely flips 15 to 25 houses a year. Mark owns 190,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
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