In this episode of Hustle Humbly, Alissa walks us through a full real estate house flip case study from start to finish. If you've ever wondered what it actually looks like to buy, renovate, and sell an investment property, this episode breaks it all down.
Seven years after buying her first investment property, Alissa received a call from a past client who needed to sell a family member's home quickly. Initially she wasn't looking for another property, but after seeing the home and evaluating the opportunity, she decided to make an offer and take on the project.
In this flip report, we discuss every stage of the process—from purchasing the property and budgeting the renovation to navigating unexpected surprises during construction and ultimately listing the home for sale.
This episode covers:
- How Alissa found the property opportunity
- The initial purchase price and renovation budget
- Planning renovations and working with contractors
- Managing miscommunications and unexpected project changes
- Security issues during renovation
- Pricing strategy when listing the home
- Analyzing the local market before listing
- The final sale price and negotiation strategy
- Calculating profit after taxes and expenses
- Lessons learned from the entire project
The numbers behind this real estate house flip case study are eye-opening. With a purchase price of $140,000 and total investment of roughly $225,000, the property ultimately sold for $320,000.
While the gross profit was about $95,000, taxes and expenses reduced the final net profit to roughly $53,000. Even so, the experience provided valuable insight into the realities of flipping homes.
Alissa also shares what she would do differently next time, the importance of clear communication with contractors, and how market research can dramatically affect pricing decisions.
If you've ever considered flipping houses or investing in real estate, this real estate house flip case study provides a transparent look at both the rewards and challenges of the process.
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