I bought a house in Irving, Texas last week. I gave the owner a week to move out. After an owner moves out, and a property is cleaned, there is always a bit of perspective available. Now, I can clearly see all of the repairs and remedies needed.
I was listening to the Entrepreneurs on Fire Podcast this week, and heard a story where someone bought a business with their live audience advising them in real time. Here is the episode, “2097: How to Be a Capitalist Without Any Capital with Nathan Latka“.
After listening to this, I thought about everyone I know that has always said they wanted to flip houses or be a real estate investor. I thought, why not see if people wanted to be a part of the process? So, I’ve set up this little event!
Here is some information:
- Three Bedrooms
- Two Baths
- Two Car Garage
- Corner Lot
- Built in 1959
- Estimated Value: $210,000
- Estimated Rent: $1,550/mo
- Estimated Rental Repairs: $15,000
- Estimated Retail Repairs: $30,000
Here is a video of what the property looks like right now:
Join in tomorrow live, and let me know what you would do. Sell it as is, rent it out, owner finance it, or fix it up and sell it. All options are on the table! I figure this could be fun, or cost me a lot of money ;)!