Flipping

Incredibly Cheap House Flip Just Bought!

I bought my cheapest house flip of the year this last week! I paid $100,000 which is really cheap for our area. There are a number of reasons why it was so cheap, the main reason being it is only a 1 bedroom house.

I try to avoid buying 1 bedroom houses but on occasion, I will purchase them. Just about the only time, I will buy a 1 bedroom is if I can add a second bedroom somewhere in the home. There is a huge price difference between one bedroom and two bedrooms.

This home was bought from the MLS and was listed for $125,000 before they had a big price change to $100,000. When that happened I jumped on it and got it under contract with a 2-week close.

The house is also on a somewhat busy street, but nothing too crazy. The house should be worth about $190,00 to $200,000 once it is fixed up and I think we can repair it for around $30,000. We will also have about $20,000 in other costs like financing, carrying, and selling.

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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 close to 200 houses and routinely flips 15 to 25 houses a year. Mark owns 170,000 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
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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