Walk through this house flip in the middle of renovation work with Armando Montelongo and one of his students, Tascha.
She takes him through a home she’s in the process of flipping in Houston. She’s on track to turn a six-figure profit from a single deal.
How? She’s adding 240 square feet to this house, including adding another bathroom. So it’s going from a 2 bedroom, 1 bathroom house to a 3 bedroom, 2 bathroom house. This immediately makes the house much more desirable to potential home buyers and raised the value of the house by $40,000.
She’s also removing an old iron handrail and posts on the front porch, knocking down some interior walls, expanding the kitchen and opening it up into the dining area.
Tascha bought the home for $265,000. She’s putting in $54,500 worth of repairs. Once it’s fixed, the market value will be somewhere between $464,000 and $500,000. That’s a potential six-figure flip.
Armando’s reaction: “Bam! I like that!”
LEARNING TO SUCCEED
Tascha is an example of the kind of success that students can create once they learn Armando’s system to Find, Fund, Fix and Flip houses. In her training, Tascha learned how to:
- find undervalued houses and quickly and accurately estimate repair costs.
- find funding to complete their deals
- work with contractors to finish repair projects on time and under budget
- price their fixed-up home so it sells fast — and profitably
Watch Tascha share with Armando how she put his lessons into action. This is also the second house Tascha has flipped. By following a proven system, she is turning this small cottage into a family house that any homeowner would be proud to own.
Along the way, Armando offers a few tips to help her with the flip.
And check out his reaction to the inspiring success of his students.