An intriguing real estate success story showed how a couple used “hard money.” to turn a $50,000 property into a $145,000 investment. Veteran and investor Jon Beemer posted on TikTok about the astonishing makeover of an unassuming building.
Photo from RedFin
House Flip Rakes in $145,000 Profit
The TikTok video begins with Beemer’s wife carrying a placard saying, “We flipped This house.” The couple paid $50,000 for the house, spent $40,000 on renovations, and sold it for $145,000.
The house’s exterior and interior modifications, including the kitchen, flooring, and bathroom. TikTok users are curious about the financials of such an enterprise.
Beemer said he financed his flips with hard money, traditional loans, and private money. In his experience, private or hard money worked best. Another user wondered if Beemer paid $50,000 for the acquisition and $40,000 for restoration. Beemer surprised everyone by investing nothing in the acquisition. He said he connected private investors with hard money to make a zero-down-payment deal.
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Social Media’s House-Flipping Trend
Social media is seeing more house-flipping videos like the TikTok one. Former Texas engineer Adriel Hsu is another article success story. He bought a rundown home for $43,000 and spent $68,000 renovating it, turning it into a lucrative business.
These captivating stories reveal real estate professionals’ methods, struggles, and successes in a world where people flip properties for millions after refurbishment.
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