The $300 Flip | Real Estate Investing | Vlog #2

TL;DR

In this real estate vlog, the host showcases a whole tail deal that was purchased for $150,000 and is expected to generate a profit of $30,000 to $40,000 with minimal work required.

Transcript

i just bought this property all cash and i'm gonna make forty thousand dollars on this flip with no work at all let's check it out whoa whoa whoa whoa whoa before we go any further in this video make sure you smash that like button and subscribe hey guys how's it going zakkin here we are with rick today and uh this is the second episode of the real... Read More

Key Insights

• 👻 Whole tailing is a real estate strategy that allows for maximum profit with minimal renovation costs.
• 🧑‍🏭 The success of a flip depends on factors such as the purchase price, market conditions, and buyer demand.
• 🏛️ Building rapport with the seller and showcasing testimonials can help in negotiating a better purchase price.
• 🥺 Utilizing the MLS can attract more potential buyers and potentially lead to a higher selling price.
• 👋 Even properties in good condition can be profitable for flips.
• ✳️ Virtual closings can be preferred to minimize risks and ensure smooth transactions.
• 😆 Testimonials from satisfied sellers can help build credibility and trust with potential clients.

Questions & Answers

Q: What is whole tailing in real estate?

Whole tailing is the practice of purchasing a property with cash, making minimal repairs, and quickly listing it on the market to attract buyers who will live in the house. This strategy allows for maximum profit with minimal effort.

Q: How much profit does the host expect to make with this flip?

The host has conflicting opinions with his partner, but estimates a profit between $30,000 and $40,000. However, the actual amount may vary depending on the final purchase price and the market conditions.

Q: What is the purpose of using the multiple listing service (MLS)?

The MLS is a platform commonly used by realtors to list properties. By listing the property on the MLS, the host aims to attract the best buyers and potentially sell the property for a higher price.

Q: How did the host negotiate the purchase price for this property?

The host built a good rapport with the seller and initially offered $140,000, while the seller wanted $180,000. After negotiations, the host offered a final price of $150,000, which the seller eventually accepted.

Summary & Key Takeaways

• The property was purchased for $150,000 with the intention of whole tailing, meaning minimal renovations (less than $3,000) would be done before putting it back on the market.

• The estimated profit for this flip is $30,000 to $40,000, with the property requiring no major repairs.

• The host emphasizes the importance of the multiple listing service (MLS) and plans to list the property for around $200,000.