Thirty thousand dollars above ask price. Imagine that so the question that everyone continues to ask as interest rates are going up is: is real estate still a good market to invest in yet alone? Is it still a profitable market to flip it? We're gon na share our story on how we received and accepted a 30 000 above ask price offer on this house flip. So we purchased this house january uh of this year, which was just a couple months ago. We expected to actually list this property for 400.

000, when we first purchased this house, we ended up getting it under contract for 313 000 through someone on social media. Actually we paid them a finders fee and we renovated this property. It took us a total of i wan na say five weeks and a thirty thousand dollar renovation, so we're all in on this property about three hundred and fifty thousand dollars with the anticipation to sell this for 400 000. Now, for those of you guys that are following the real estate market, you guys have known how aggressive, especially in arizona we have pushed up over the last couple months.

So we ended up actually changing our after renovation value from 400, 000 to 420 000, just based on the amount of traction we had from when we bought it to when we were actually planning on listing that house, which was just a matter of like i said, Six weeks, so we ended up listing this property four hundred and twenty thousand dollars and, like ricky, said at the beginning of this video we had probably the most amount of traffic showings offers out of all of the properties we've ever done before. On this specific one. Just because the amount of demand in the area, the price point we had it at, and i obviously think some of the renovations as well is what got this house attraction that it did get. So we ended up settling with an offer at 450 000 with absolutely incredible terms.

We had 18 other offers as well on this property. Every single offer we got besides. One was over list price, which just is mind-blowing in a market like this, with interest rates rising. There's just not enough supply here in arizona, so breaking down this deal, we're selling it for 450 000.

We're projecting about 20 000 in closing costs, which puts us at about 430 000 subtract that 30 000 of renovations that we did puts our break even at 400. 000, like i said, we picked this property up for 300. I think 317 thousand dollars all all in which uh puts our profit margins, just over 80 000 on this property, just absolutely crazy right now, the market that we're in um. So one thing that we do want to talk about is what we're going to do in order to capitalize on the opportunities that we're seeing right now and one of the things that ricky and i and we have actually a couple people that are on our team.

Now we're doing handwritten letters to this specific subdivision in this specific neighborhood in chandler arizona to really capitalize on the opportunities that we see. Definitely, i think that's one of the biggest things that i wanted to talk about. It's amazing that we're able to flip a house for a profit, especially with interest rates rising. I know that's been a concern for a lot of people.

Let us be a true example of you know from the very beginning, since you guys have been following us, i mean flipping houses at least on this youtube channel is not our main focus, and one of the things that i've tried to preach from the very beginning Is instead of being scared because of interest rates and trying to miss out on every opportunity in reality based off of our experience, it's really just encouraged us to not be afraid, but just be conservative in the opportunity that we do choose to take advantage of this. Being a great example, and with that being said, it wasn't all grammy, it was great with this deal, but there have been deals that nick and myself have missed out on because of how conservative we are the reason i'm sharing this with. You is because i need you to understand not just our successes, but also our areas of opportunity with that, with understanding that it doesn't necessarily motivate us to just throw offers left and right. Our job is still to be selective, but to understand how the market, at least in our market in arizona, is reacting.

Inventory levels are low and although interest rates are still rising, this house is a great example that demand is still higher than ever before. So that is why, when we saw the reaction and the demand it made sense - and this is why we're making this video - it made sense to really double down in this neighborhood and look alike properties to send out personalized handwritten letters to try to catch another deal. Even before we close on this one and that's kind of my suggestion for all of you guys, if you've ever wanted to get into real estate, you can come up with literally every excuse in the book to not do it at the end of the day. That means less competition for us, but if you're, someone that actually wants to get started and your main concern has always been - i don't have the money.

I don't really know what i'm looking for. I don't want to hear that excuse, if you just just so. You know if you follow me on instagram 50 of the 15 deals that we've closed this year for the year of 2022. What is it april? 1St 15 deals.

We've closed on, 50 have been through instagram and through youtube. We've paid finders fees in the thousands of dollars, or we agreed to a rep split guess how much money that these people put up? Nothing. They don't invest one dollar, they source us the deals. They find us the deals.

They connect us with someone. That's interested in selling a house. That's all! That's your part, especially if you're wanting to learn how to flip will allow you to shadow us we'll. Let you manage right, you can work with nick and manage and learn how it is that we take on these house.

Flips and that's my message, i guess to all of you guys you can make up any excuse, but for those that actually want to make it happen, even during you know, competitive times. I encourage you to message us right now. Nick's instagram is going to be down below my instagram is going to be down below. You can watch this video like it and then move on to the next video and do nothing at all or you can send us a message.

We respond to all of our messages. Let's connect, we will send you exactly what we're looking for and if you find us the deal, we'll pay you thousands of dollars of finders fee or we'll partner up with you and do a ref split. You don't need to put one dollar. The excuse of i don't have.

Money should no longer be an excuse. If you have time and you're good at sourcing deals, we want to partner up with you that plain and simple yeah that was it uh. We already got one response on one of the letters that we sent out as well. So that's super super exciting, so there's always opportunities you just kind of have to search for them and i think we're going to continue to grow that way and hopefully we'll be able to lock up more with you guys, yeah.

So huge shout out to michael who was actually, i believe, sending out uh those personalized letters so really do appreciate you guys this time again just wanted to not only talk about our successes, but also some of the areas of opportunity really looking forward to working with You guys, i hope, that i earned a thumbs up again, send us a message right now on instagram. We appreciate you guys time. I hope that you guys can consider subscribing and, like always, let's make sure that we in the year on agree now take it easy team.