House Flip Update: Fix up the House or Sell As-Is? Bought 1/7/2020

I bought this house a few months ago from a wholesaler. The wholesaler said he got the house from a friend who was still living there. I was dumb enough not to check the house to make sure the previous owner was out before buying it and he did not leave. The gentleman did not return our calls, answer the door, or return notes we left on the house. He simply would not leave. We started an eviction and when the lawyers left a notice the occupant contacted them and said he just needed a few weeks more. We gave him two weeks and nothing, so we had to go through with the eviction which you can see here: https://www.youtube.com/watch?v=HxYuPmyI91s

He left so many things and we did not know if he had left or not but after reviewing the video we could see where he had taken some pictures off the walls. I think he did leave he just chose to leave most of his stuff in the house.

This house needs a lot of work as you can see! We have a few other flips going as well (11) so it takes us some time to get to these remodels. I decided to try to sell this one without fixing it up since it would be a ton of work and take away a lot of time from my other projects.

I bought it for $160,000, we listed it for $199,000 as-is. Then we lowered the price to $195,000 and we got multiple offers over list price last weekend. It is now under contract and the buyers have no inspection but we still need to get through the appraisal. I talk about what things an appraiser will look at in the video.

We will see if this one goes through okay and I think I will send someone out to take care of some minor issues that an appraiser may find faulty with before the appraisal.

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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 180 houses and routinely flips 20 to 30 houses a year. Mark owns 20 rentals properties as well including a 68,000 square foot strip mall. Mark is the managing broker and owner of Blue Steel Real Estate. Mark is also a member of the Forbes Real Estate Council.
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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Видео House Flip Update: Fix up the House or Sell As-Is? Bought 1/7/2020 канала InvestFourMore Real Estate