Guy Haramaty
just sold my first sub 30k house in cleveland
21 January 2018 | 5 replies
(they cut copper and wires)we put in to it 1 month of self work (learned from youtube) plus hired a professional (for the shower and kitchen) at total of 20k.we sold it just now for 35k (lost 7k)the good thing is that i can notice the mistakes:1. we've upgreaded the elctrical sistem at a bout 4k. most buyers dont care for that and it cause a lot of holes in the old plaster wall (much worse the dry wall)2. we didnt paint the outside- thinking it less important (its very important)3. we used stick on tiles instead of vinyl floor (1 days extra work), replaced windows that were old but not in a bad shape and a few more extras there and to littles here...4. to stress to buy (we were not local and had a flight back home) and to sell (we thought the snow slow the market down- its not so true)to summaries it:dont buy a house with electrical issues, bad windows, and rough exterior.dont be afraid from holes in the walls, old paint or pluming issues- those are reliability easy to fix and drop the purchase price dramatically.now we will buy 2 more houses with a purchase price of 12-20k, remodeling budget of 8-10k.we predicts a 15k profit on a flip and 20% roi on a rental (1 house for each niche)i leave you with some pictures