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All Forum Posts by: Andy M.

Andy M. has started 24 posts and replied 309 times.

Post: I made $187,861 NET profit on this flip!

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@David Kay I don't remember specifically how much the attic renovation cost (I don't think we broke it out like that). But yes, the total repair figure included all new electrical and plumbing though out the whole house. Thanks for the compliment on the project. ;)

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Jim Keller Hey Jim, to answer your question.. the biggest "unexpected" was that all of the pipes were cracked! The house was vacant and sat open to the elements for 8 months in Utah and it was over the winter. We had to fix a section of broken pipe, then find the next leak, then the next. It was crazy for a little bit! :)

I've learned in the years of rehab to expect the unexpected. Nothing really goes as planned but you just roll with the punches and stuff works out generally. Just don't let it stop you from taking action. Fear really stops most people from even trying. 

Thanks for the positive comments about the video. :)

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Mike Fisher That is awesome!! Sounds like you had a good experience with your fire house as well. :)

@Karen Weichold Lol. Well done. ;) I actually have a full time project manager who acts as the GC on my projects. He works with the same subs on most of our projects so I'm sure that helps with the costs. I also give him a bonus if he comes in under budget. 

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Brandon Johnson & @Robert Swingle A big thanks to both of you guys for checking out my other videos as well. Robert, thanks for the kind words about my "from the trenches" videos. I'm not really worried about the number of views at this point because I know that as I keep pumping out quality videos the views will come. Content first right? That said, I'll keep putting out the quality videos, and you keep sharing them with your friends. Deal? :)

Thanks again guys!!

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Margaret J. ABSOLUTELY. Building rapport is key, and the best way to build rapport is to listen to the other person. It's actually killing two birds with one stone, listening helps you build rapport AND know how to create an offer that the seller will accept. Just listening to sellers in this business will take you a long way. 

Thanks for the love on the video as well. :)

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Brandon Johnson and @Tony HanThanks for the kind words on the video. I've said it before, and I'll say it again, but seriously, I appreciate the love. :)

Here is a follow up question for the thread.. I've been making different kinds of videos for my video blog. There are project videos (like the Firehouse video you just watched), interviews, and also a weekly show I call "From the Trenches". I'd love to hear people's thoughts on what they find the most valuable.

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Monique Housen-Hila Thanks for the encouragement on the video! I really love it when people watch my videos and they say that it inspires or encourages them! Seriously, that is what keeps me going with the video blog most days. Love it. :)

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

@Teresa Vinson El Lol. I love it when a plan comes together as well. ;)

@Craig Pfeffer @Rolanda Eldridge I bet you both will keep your eyes open for fire damaged houses now! They are definitely money makers! I have a buddy Billy Alvaro, I have an AWESOME interview with him on my video blog [here if your interested: http://youtu.be/xx9UeTNKFek ] that does a lot of fire damaged houses and he says that they are always his best money makers!

@Griffin Fehrs @Andrew Johnson Thanks for the love on the video production! That seriously means a lot. Especially to my brother who is the talent behind the camera and editing.

@Jean Cetoute I'm glad that the story encouraged you! I thought that showing these videos would make it "real" for people. None of that fake HG TV stuff you know? Thanks for YOUR encouragement to me. :)

@Travis Hamilton Ah... the red tape involved with the city on this project.. where do I begin. You can't demo the property (I.E. clean up ANYTHING) until you have certifications that there isn't asbestos. Then you need to draw up plans (normal permit stuff). With the burned wood you need to go through a process (engineering?? I forget what it is called) to determine if it is structurally sound or if it needs replacing. Basically anything that has a look of fire damage, even if it isn't "burned" per se. There were definitely other little things that came up, but the biggest headache was dealing with the prolonged timelines because there is the whole city process, timelines, inspections, reinspections, etc. 

Post: Video Deal Diary - $50K Profit Blown!

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

I loved the video as well. But I should have trusted my gut. :)

Post: $52,069 profit on my first "Firehouse"

Andy M.Posted
  • Investor
  • Farmington, UT
  • Posts 314
  • Votes 179

What's up BP Nation? I flipped my first ever burned out "Firehouse" a few months ago and it turned out pretty well. $52,069 in profit. This story has a few interesting twists and take aways as well. One of my key take aways was NEVER to make a blind offer to a motivated seller.... ask me how I know. :( I almost missed out on this deal entirely!!

True to form, I made a video of this story for my Vlog. It's 7 minutes long and I'd love to hear your comments.

http://youtu.be/GUAITz6hq7g