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Jamal, this is a great video and very educational! You are 1000% correct with you reasoning, numbers and methodology. Love it! I did this for over 20 years, and just got my last home for only $75K cash - Cash is KING! For around $25K, I can paint it, update the inside, build a fence, do some landscaping, re-build front porch, and I DIY about 75% of my projects (demo, renovations, gut rehabs, etc.). It's a side kick thing I've done for over 20 years. When I sell this current house in 3 years, I will make $75 - $10K, depending on how much I want to put into it - ie., re-siding vs painting, a new driver, way, etc. My last project in Chicago was a home with 2 basement apartments that we financed at $157K and sold for $280K. That was a real gut-rehab, and a main in the.....! Never again. LOL. My wife bought that one, I told her not to but, it enabled us to my our current home with cash and pay off our car. The wife was right, but my back skill hurts. LOL! I have pics of that last project and tips on how I am doing this current project. BTW, in IL\Cook County, you can buy Property Taxes from delinquent payers for a few thousand and make a bundle. You and could also own the home in 3+ years. There are TONS of opportunities now, and more are coming because of Property Tax increases, HOA fees, Insurance and more. people's taxes are doubling and they will be selling soon, if not already. The more inventory, the more prices will drop, so wait!

I'm an experienced Flipper and all this info he is putting out there is spot dead on!!

great video. the comparison between options when looking at purchasing a property is a nice thing to have explained so people can see what is actually supposed to be going through your brain when looking at a property like this. everyone should be able to run quick numbers like this in their head and be able to calculate an offer on the spot knowing what is and is not possible with the property. thanks for this video.

To the point analysis, all quality content no extras. Awesome you include it all. First time viewer, subscriber !

This flip's transformation is nothing short of remarkable. Kudos to your hard work!

Great video! Thanks for all the knowledge you share.

Such an awesome breakdown! Currently preparing to start my wholesale real estate business in ATL, and your content definitely motivates me. Keep 'em coming!

@jamelgibbs

Жыл бұрын

Glad it was helpful!

Maybe rip out the wall separating the kitchen from the linen closet and turn that closet into a kitchen pantry with the door being in the kitchen. Open up the hallway by removing the door leading to to living room from the kitchen. Love the videos, wanting to move to purchasing in NC lived there.

@jamelgibbs

Жыл бұрын

That was definitely a thought.🙏🏾

Help me understand. Asking 130k. Your offer price 100k. 50k rehab puts you at 150k. 3 months of holding costs plus double close extra 10-15k to be safe. 200k-165k = 35k profit. Why not offer 115k and settle for 20k profit? No sellers near me are accepting offers 30k below asking. I’d gladly flip a home for 20k profit. If I could get full asking of 220k on resell. It would be 40k in the kitty. 115k looks like a good offer price in my eyes. Maybe I’m missing something. Thanks for the help in understanding Jamel

@jamelgibbs

Жыл бұрын

Each market is different. I prefer higher profit margins in order to prevent squeezing myself too thin. I look for a dollar for dollar turn between rehab and profit. I have consistent deal flow so I can be picky, but it’s really just preference.

@adriank2959

7 ай бұрын

Nah... You r being too easy to satisfy... Higher the margin coushion, better protection if anything goes negative...

@bootsbooy

Ай бұрын

You’re also forgetting about risk. There’s almost always something wrong with a house you can’t account for. The lower price you buy a house, the safer the project.

Great meeting you at Doru Meetup.

great video ... i think i went to a community college in Jamestown ...

Good job

Great content just subscribe it’s like a one stop and learn going threw your videos ; I learn more watching your videos than my 5 years experience as a real estate person in Brooklyn my niche was rentals at the time . Salute to you much success health and wealth 🏆💪🏾🏆

You the man. Great walkthough

@jamelgibbs

3 ай бұрын

thx

Love your channel. Can you add close captioning to your videos please. Thanks for all the knowledge you share.

@jamelgibbs

Жыл бұрын

Thank you. And thanks for the heads up. I will look into it.

@jamelgibbs

Жыл бұрын

UPDATE: You can add that through your settings. The video already has it via KZread. Here's how: Go to video > Click on settings > Click on subtitles, and turn on along with your language. Hope that helps!

↓Subscribe for more real estate investing tips↓ reieducationacademy.com/KZread-Subscribe Also, share and leave a comment below.

I would flip... Great video Jamel - Good Luck, Gary

@jamelgibbs

11 ай бұрын

thanks

Great video. I don’t understand why a conventional loan can’t be used to finance it though. I thought as long as it already had power, plumbing and other bare necessities to pass as “livable” then it’d get through appraisal. Is it just that sellers prefer cash so they could close a few weeks sooner? If I had a conventional loan and offered 110k would the seller still likely go with your 100k cash offer?

I would turn that den into the new owners suite. You got plumbing on the backside of the laundry room to add a bathroom. Id join that half bath with the closet for a walk in

@jamelgibbs

Жыл бұрын

Not a bad idea, but it would depend on the cost vs increase it value.

@verderriscursey

Жыл бұрын

@@jamelgibbs I dig

🔥🔥🔥

How is the housing market for buying and flipping houses for money now compared to several years ago??

🐐

Jamel - In the beginning you said it needs new windows. What specifically do you look for to know if it needs new windows?

@jamelgibbs

Жыл бұрын

The windows are old.

@AberrantArt

Жыл бұрын

@jamelgibbs is it a specific model or style that tells you it's old? Otherwise why not just paint them?

How to find the family vault patreon? How can you get his house for 100k?

How will 1% work in an area like nyc where houses cost 500k+….?

@itsjaymora

9 ай бұрын

I would recommend doing the outskirts of NY or virtually in other markets. It will be much harder in big cities due to price points and the whales in the area

You got the hook up on labor

@jamelgibbs

Жыл бұрын

Yep. In house guys

@MrJfking

Жыл бұрын

@@jamelgibbs that’s what I need a in house crew

@jamelgibbs

Жыл бұрын

Indeed

That a MILLION DOLLARS WORTH OF GAME.

Bra I think you lost 5 lbs that day lol good video tho 👌🏿💯

@jamelgibbs

Ай бұрын

Yeah it was hot in there. Lol

Soo cute

Oh Jesus he's fine 😍

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