My Wholesale/Flip in Akron, Ohio.

[David Humphrey]

Hey Everybody,

Just wanted to share a bit of success I had last week.  

Got a call from the owner of a rental property.  His tenant moved out in December 2014 and decided to do the owner a favor and flip the main breaker...  What she should have done was shut off the water.  A pipe burst because of the Ohio winter, and water ran for 3 weeks before he discovered it.  Luckily, the basement floor drain kept up, but the kitchen was gutted, walls, ceilings taken out. Professional remediation by a disaster cleanup company.  

I buy the house for $4000.  It was a 3br/1ba 1400sf with an arv of $45k in a C class neighborhood.  I went in for 2 days, busted *** to hang 48 sheets of drywall, 16 sheets of subfloor, just to make the property appear less intimidating.  

Put on the market for 1 day at $15k, insane response.  2nd person who came to look at it offered $12k cash and could close in 2 days.  I took the offer

Long story short, bought a property for $4k, invested $600 and 2 days, sold within 2 days for $12k.  Not a bad profit for a few days work.