A YOUNG property investor made a hefty sum of money during a quick flip.
The 27-year-old house flipper turned a profit of $325,000 without doing any renovations.
EASY MONEY
Willny Guifarro (@willnyguifarro1), a TikToker and property investor, made a lot of money from one of his flips without putting in a ton of work.
In the video, he shared how he made $325,000 within only 30 days off of an “ugly” apartment.
He had visited a “run-down complex” and ended up contacting the owner, who was tired of managing the apartments and wanted to sell.
After touring a few units, the TikToker estimated that the property would need around $500,000 in renovations.
He also calculated that the apartment complex would sell for around $1.8 million once revamped.
Guifarro ended up offering the owner $500,000 for the property, and his offer was accepted.
Shortly after, he sold the complex to an investor for $825,000 without making any changes to the complex.
All within 30 days, the TikToker made a profit of $325,000.
RETIRED YOUNG
Investing in and flipping properties can be a lucrative business.
Adriel Hsu, a former engineer, was able to retire at 29 due to his successful house flipping endeavors.
He bought a home for $43,000 through a probate sale, which is a court-managed process for selling real estate that belongs to a deceased person’s estate.
Hsu fully renovated the home, including redoing the kitchen to add modern countertops, cabinets, and appliances.
Additionally, the property investor replaced the bathroom and redid the floors, walls, and exterior of the home.
Even the exterior of the property was unrecognizable after Adriel was finished.
The renovations cost him $68,000, and the home ended up selling for $166,000.
He had to pay closing costs and realtor commissions, totaling around $8,000.
After all the expenses, Hsu made a profit of $46,000.
In other home news, a real estate pro shares how he flipped a home in just 12 days and made $50,000.
Also, investors bought a $105k home and flipped it for $38k profit – it was ‘perfectly executed’ thanks to an important added feature.
