I just bought this house flip from a wholesaler and as part of the deal, I was not able to see the interior of the property until today when I bought it. I was focused on making sure the tenants would be out on time and they were but I missed something else. A big something else.
I was under the impression that the basement was finished but it obviously is not! The property only has 2 bedrooms and 1 bath, which really decreases its value but I think we will still be okay.
The wholesaler had said it would be worth a certain amount reconfigured as a 5 bed, 2 bath house and I think I mistook that to mean it already had 5 beds and 2 baths. Totally my fault and not theirs.
Oops! On a good note, we are buying 2 more flips this week that I already saw. ;)
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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped over 200 houses and routinely flips 15 to 25 houses a year. Mark owns 190,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
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