Flipped a House for a Quick $3,000

I would like to share this success story because it has been six years in the making! I bought the Ron LeGrand “Wholesale/Retail” course in 2001. Prior to that I had done some “research” into flipping houses.

Over the course of the past six years, I have picked up the course, read a little, put it down, switched jobs, tried other businesses, picked up the course, put it down, moved several times, and basically decided that there were too many people investing in real estate for me to make any money at it.

Finally after browsing through William Bronchick’s Flipping Houses for the twentieth time, I decided to place a “junker houses” wanted ad. I got quite a few calls. And while most were not good deals, I did come across an elderly couple who had a house that was a “major rehab.”

The husband was going in the hospital to undergo surgery for cancer and wanted to get rid of the house. After trying to sell the house for $19,000 and having a couple of contractors tell me that the rehab would be extensive due to a cracked foundation, I was ready to give up.

I went back to the owner and asked him if he would take $9,000, and he said that he would. I got an investor referral from an “I Buy Houses” ad on a pick-up truck that blew by me on the Interstate. I assigned the contract to that woman for $3,000 and used the profits to extend my ad and voice mail marketing tools.

This is a clear-cut case of sticking to it, even when you have convinced yourself that it doesn’t work–and then proving yourself wrong. Many thanks to Ron LeGrand, William Bronchick, and all of the folks at CRE Online for the support, information, and inspiration. You truly help others to see “beyond closed doors.”

Keep up the good work!

By CREOnline Contributor

A content contributor to the original CREOnline.com.