Fix and Flip | How To Fix and Flip With Hard Money Loans


– Hi guys, Lex Levinrad over here, and I’m standing in front
of a new Fix and Flip. I just picked up this house, and it was actually listed on Hubzu.com. I picked up this house for $110,000, and I’m looking to fix it up, put about $20,000 into it
and sell it for around $170,000. So, let’s go ahead and
take a look at the inside. Alright, so here we are now
in the inside of this house. Just a typical three
bedroom, two bathroom house, and we’re located in a town called Port Saint Lucie in Florida. And as I said, this house I just purchased a few days ago for $110,000, and I’m going to spend
around 20k fixing it up, and I’m lookin’ to sell it for around 170k. This house needs
everything, in other words, the dry wall needs to be repaired, all the walls need to be painted, all the flooring needs to be redone, and in addition to that, I’m going to put in a brand new kitchen, Because that kitchen is
really, really not nice. And I’m going to open up
this kitchen over here so that there’ll be a
nice granite countertop over there and you’ll be
able to see the kitchen and the stainless steel
appliances a little bit better. So, all in on this property. The spread between the
purchase and the sale, 110k to 170k would be 60k. I’m going to spend about
20k of that in repairs. I figure as much as 10k in points and fees and interest and closing costs and everything else, commissions. At the end of the day, I should net around $30,000 on this, right? So, it’s not difficult to do. People say, “Hey, Lex, how do you find houses like this?” Well, this one was on
Hubzu.com, so they’re out there. If you want to learn how to fix
and flip houses like this, make sure you come to my Fix
and Flip Houses Bootcamp. I’ve got one coming up, and
if you want to learn more, go ahead and put your info below.

One comment on “Fix and Flip | How To Fix and Flip With Hard Money Loans”

  1. Florida Real Estate Show says:

    Great video 📹

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