How’d we manage to buy this house for $305,000 and get it under contract for $500,000? Follow along on our walk-through of the property to find out.
Welcome to one of our latest fix-and-flip properties at 21 Center Avenue in Reading, Massachusetts!
This property was purchased three months ago for $305,000. We put in $60,000 worth of repairs, and we just recently got the project under contract for $500,000. All told, we’re probably looking at a $50,000 to $70,000 net profit.
Follow along in the video above to get a full tour of this property and hear me explain some of the fix-and-flip processes we used to turn this house into a profit. For your convenience, I’ve included timestamps below so you can skip ahead to certain sections that might interest you:
(1:17) - A split-level entry that allows you to walk upstairs to the first floor or downstairs to the second floor.
(2:08) - Our fully staged living room, dining room, and kitchen layout on the first floor.
(5:04) - The upper-level bathroom.
(5:55) - Upper-level bedroom No. 1.
(6:21) - Upper-level bedroom No. 2, featuring new windows.
(6:52) - Upper-level bedroom No. 3.
(7:17) - Lower-level bedroom No. 1
(9:52) - The lower-level den, featuring a fireplace.
(10:15) - The lower-level bathroom, which we made into a full bathroom.
(10:45) - Key points to remember about fixing and flipping.
If you want to learn more tips and tricks to flipping properties or you’d like to work with me directly on fix-and-flip properties, visit www.realestateinvestingiseasy.com. By entering your email address on that website, you’ll get free access to any of my fix-and-flip training events and free access to my private Facebook group “Questions for Tom,” where I’ll answer any of your real estate investment questions.
Thanks so much for walking through this property with me. If you have any other questions, feel free to give me a call or send me an email. I’ look forward to hearing from you.