WHY I Had To SELL A $250,000 house for $55k
Published: 2021-11-04
Status:
Available
|
Analyzed
Published: 2021-11-04
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The buyer is estimated to spend $90,000-$100,000 on renovations and foundation work for the property.
"they're going to put about fifty thousand dollars in the renovation of this property on top of the forty thousand dollars that they're going to have in the foundation work this will put them in the neighborhood of around a hundred thousand dollars maybe ninety thousand dollars"
Pending
The property could generate approximately $7,500 per month in revenue if operated as an Airbnb with 30 days of full occupancy at $250 per night.
"do an airbnb here do the location overlooking everything and they could make an additional 250 per night 30 days a month that would be what 7 500 bucks a month in rent off of uh full occupancy"
Pending
Foundation repair for the property is estimated to cost $40,000 if hired out to a firm, or $25,000 if done with friends and rented equipment.
"it came out to forty thousand dollars if i would hire a firm to do it or if i got a bunch of friends together rented some excavating equipment we could get it done for about twenty five thousand dollars"
Pending
The property is expected to sell for approximately $250,000 after repairs.
"but the sales price is going to be right around my quarter million dollar estimate"
Pending
The property was sold for $55,000, despite an estimated worth of $250,000.
"all right i know what you're asking why on earth would i sell such a gorgeous house for 55 000 if it really was worth a quarter of a million dollars"
Pending
The speaker anticipates netting approximately $600,000 from selling another dozen houses.
"i've got another dozen houses to sell that'll net me about 600 grand"
Pending
The speaker sold a property estimated to be worth $250,000 for $55,000.
"sell a 250 000 house for 55 000"
Pending
The speaker generated over $31,000 in the stock market and uses this income to fund real estate purchases.
"I made a little over 31 000 last year in the stock market and there's also a mini explainer video of how i use them to fund my real estate purchases"
Pending
The buyer of the property is estimated to spend $50,000 on renovations plus $40,000 on foundation work.
"they're going to put about fifty thousand dollars in the renovation of this property on top of the forty thousand dollars that they're going to have in the foundation work"
Pending
The speaker generated over $31,000 in the stock market and uses M1 Finance to fund real estate purchases, suggesting a combined investment strategy.
"I made a little over 31 000 last year in the stock market and there's also a mini explainer video of how I use them to fund my real estate purchases"
Pending
The property could generate $7,500 per month in rental income if used as an Airbnb with full occupancy at $250 per night.
"do an airbnb here do the location overlooking everything and they could make an additional 250 per night 30 days a month that would be what 7 500 bucks a month in rent off of uh full occupancy"
Pending
Recently renovated properties of similar size in the neighborhood are selling for approximately $250,000 to over $300,000.
"the neighborhood properties are selling easily for quarter million dollars if they're recently renovated and similar in size and some of the properties are selling for well north of three hundred thousand dollars"
Pending
The speaker anticipates selling another dozen houses, expecting to net approximately $600,000.
"I've got another dozen houses to sell that'll net me about 600 grand"
Pending
Foundation repair for the described property could cost $40,000 if a firm is hired, or $25,000 with DIY labor and rented equipment.
"it came out to forty thousand dollars if I would hire a firm to do it or if I got a bunch of friends together rented some excavating equipment we could get it done for about twenty five thousand dollars"
Pending
The precise cost to complete the foundation repair work is estimated at $40,000.
"it was to the penny forty thousand dollars to get it done"
Pending
The estimated renovation costs for the property are $50,000, in addition to $40,000 for foundation work.
"I estimate they're going to put about fifty thousand dollars in the renovation of this property on top of the forty thousand dollars that they're going to have in the foundation work"
Pending
The speaker plans to continue investing in real estate and is offering a mentorship program for others to follow their strategy.
"I would definitely encourage you to follow suit with me and start investing in real estate and get into my mentorship program."
Pending
The property could generate approximately $7,500 per month in rental income if utilized as an Airbnb with full occupancy, charging $250 per night.
"do an airbnb here do the location overlooking everything and they could make an additional 250 per night 30 days a month that would be what 7 500 bucks a month in rent off of uh full occupancy"
Pending
The speaker made over $31,000 in the stock market last year and uses a platform (M1 Finance) to fund real estate purchases.
"I made a little over 31,000 last year in the stock market and there's also a mini explainer video of how I use them to fund my real estate purchases"
Pending
The speaker used funds from stock market gains to finance real estate purchases.
"I made a little over 31 000 last year in the stock market and there's also a mini explainer video of how I use them to fund my real estate purchases."
Pending
The speaker plans to sell approximately twelve additional houses, which are expected to net around $600,000.
"I've got another dozen houses to sell that'll net me about 600 grand"
Pending
Recently renovated houses of similar size in the neighborhood are selling for $250,000, with some going for over $300,000.
"the neighborhood properties are selling easily for quarter million dollars if they're recently renovated and similar in size and some of the properties are selling for well north of three hundred thousand dollars"
Pending
The speaker purchased a specific house in early 2016 for $27,000.
"my involvement with this house started in the first part of 2016 where i bought it for a princely sum of 27 thousand dollars"
Pending
A property sold for approximately $350,000 to $400,000 within 200-300 yards of the speaker's house.
"there was one that sold I think probably within two or three hundred yards of this place for about four hundred thousand maybe three hundred fifty thousand dollars"
Pending
The speaker invested an additional $10,000 in renovations, bringing their total investment in the property to $37,500.
"and put about ten thousand dollars on it so after it's all sent in i had thirty seven thousand five hundred dollars in this cool decently sized four bedroom two bathroom home"
Pending
The cost to fix the foundation issue is estimated at $40,000 if a firm is hired, or $25,000 with friends and rented equipment.
"for better or worse it came out to forty thousand dollars if I would hire a firm to do it or if I got a bunch of friends together rented some excavating equipment we could get it done for about twenty five thousand dollars"
Pending
The speaker rented out the property for $750 per month starting around July 2016.
"after we got it done i rented it out for 750 this was about july 2016"
Pending
The cost to fix the foundation is exactly $40,000.
"it was to the penny forty thousand dollars to get it done"
Pending
Over five years of ownership, the property had three tenants and remained rented for most of the time.
"we had a grand total of three separate tenants that lived in this property and although there was maybe a month and a half to two months worth of downtime it stayed very much constantly rented"
Pending
The new owners are expected to invest approximately $50,000 in renovations, in addition to $40,000 for foundation work.
"I estimate they're going to put about fifty thousand dollars in the renovation of this property on top of the forty thousand dollars that they're going to have in the foundation work"
Pending
The speaker achieved a gross return rate of over 22% on the property.
"which represents over 22 percent gross return rate that is the rent i charge divided by the price that i purchased it for"
Pending
After spending $90,000-$100,000 on repairs and renovations, the house is expected to sell for around $250,000.
"this will put them in the neighborhood of around a hundred thousand dollars maybe ninety thousand dollars to get the house fixed up but the sales price is going to be right around my quarter million dollar estimate"
Pending
The property generated over $36,000 in revenue from September 1, 2017, onwards, according to AppFolio tracking.
"and see that we made a little north of 36 000 since i threw it into appfolio and started actually tracking the numbers which that would have been september the 1st 2017."
Pending
The four-bedroom house generated approximately $763 per month in gross revenue, based on the initial $37,000 investment.
"that comes out to 763 per month in gross revenue that this four bedroom house accumulated even though i only paid 37 000 for it after renovation"
Pending
As an Airbnb, the property could generate $7,500 per month in revenue with full occupancy ($250/night * 30 days).
"they could make an additional 250 per night 30 days a month that would be what 7 500 bucks a month in rent off of uh full occupancy"
Pending
The speaker plans to sell another dozen houses, which are expected to net approximately $600,000.
"I've got another dozen houses to sell that'll net me about 600 grand"
Pending
Repair costs for the property were slightly over $5,000 over four years, and property taxes were over $4,000.
"a little north of five thousand dollars over the course of about four years that was my biggest cost other than property taxes which were a little over four thousand dollars"
Pending
Recently renovated properties in the neighborhood of similar size are selling for at least $250,000, with some going for over $300,000.
"the neighborhood properties are selling easily for quarter million dollars if they're recently renovated and similar in size and some of the properties are selling for well north of three hundred thousand dollars"
Pending
A property sold nearby for approximately $350,000 to $400,000.
"there was one that sold i think probably within two or three hundred yards of this place for about four hundred thousand maybe three hundred fifty thousand dollars"
Pending
General repairs for the property over three years were under $1,400, while plumbing costs were around $4,000.
"my three year cost log for this property general repairs were less than 1 400 yet the plumbing was right around four thousand dollars almost four times higher"
Pending
The property is experiencing structural issues due to its location on a hillside, causing it to slide.
"unfortunately it's the intriguing tale of why you should be very cautious with buying a house on the side of a giant hill uh unfortunately it's falling off the side of the hill"
Pending
The retention wall built on the property was improperly constructed, leading to water and mud buildup which is causing hydraulic pressure to push the house down the hill.
"they did a nice retention wall but the problem is if the wall gets full of mud and water that's a bad thing see what happens is water that comes down from the top of the hill to my property which sits in the middle of the hill all that hydraulic pressure will actually build up and either push the property off the side of the hill"
Pending
Fixing the foundation issue would cost $40,000 if a firm is hired, or approximately $25,000 if done with friends and rented equipment.
"it came out to forty thousand dollars if i would hire a firm to do it or if i got a bunch of friends together rented some excavating equipment we could get it done for about twenty five thousand dollars"
Pending
A potential deal with a buyer contingent on a sale involving BlackRock fell through, causing a four-month delay in selling the property.
"blackrock walked away from the deal and the buyers didn't get their money so we tied up almost about a month on the market and they uh they weren't able to buy it so we had to relist it and it started this whole process of me wasting nearly four months to sell this home"
Pending
The cost to repair the foundation issue was precisely $40,000.
"it was to the penny forty thousand dollars to get it done"
Pending
The new buyers are estimated to spend $50,000 on renovations, in addition to the $40,000 for foundation work.
"i estimate they're going to put about fifty thousand dollars in the renovation of this property on top of the forty thousand dollars that they're going to have in the foundation work"
Pending
After $90,000-$100,000 in repairs and renovations, the house is expected to sell for around $250,000.
"this will put them in the neighborhood of around a hundred thousand dollars maybe ninety thousand dollars to get the house fixed up but the sales price is going to be right around my quarter million dollar estimate"
Pending
The property could potentially generate $7,500 per month by operating as an Airbnb, at $250 per night for 30 days.
"the other play that they have here is they could do an airbnb here do the location overlooking everything and they could make an additional 250 per night 30 days a month that would be what 7 500 bucks a month in rent off of uh full occupancy"
Pending
The speaker plans to use the proceeds from selling this property for other real estate projects.
"i can certainly use the money for some cool projects on my other properties"
Pending
The speaker is selling a property valued at $250,000 for $55,000 due to time constraints and other projects.
"reason that it makes sense for me to sell a 250 000 house for 55 000"
Pending
The speaker plans to sell another dozen houses, anticipating a net profit of approximately $600,000.
"i've got another dozen houses to sell that'll net me about 600 grand"
Pending