A 2024 Guide to Flipping Houses and Driving Away in a Cybertruck

My name is Joe Homs. Welcome to my channel. I'm a real estate investor and I'm going to show you today how you can get a Cybertruck in just one easy flip. And I'm kidding, it's not easy, but yes, on one flip you can afford to buy a Cybertruck as well. So we're going to take you through this flip. I'm going to take you through the numbers here real quick to show you What you can make at the end of the day. This property is getting ready to close next week, $1,265,000. The after-repair value, after you finish fixing it nice and neat, is about $1.6 million. It's going to take about— I'm going to be really conservative— about $200,000 to fix this up. So now we're up to $1,465,000, and after that you have closing costs, commission. Let's just throw $50,000 into there. So you're really at $1,500,000, and I said you could sell it for $1,600,000. So if you make a profit of $100,000, you just bought yourself a Cybertruck. Okay, that process is mostly about how to acquire this property. Then having a good contractor crew ready to go on day one, start the rehab process. Hopefully it doesn't take more than 60 to 90 days at the most. Okay, put it back on the market and sell it for $1.6 million. 4 to 6 months later, you're driving around in a Cybertruck, and you get to write all that stuff off except the Cybertruck. If it's part of your business, you can write it off, and that would be awesome if it was. We can talk about that as well. Just reach out to me. I'd like to hear your comments, so just comment below. I'm happy to answer any questions, and I'm also happy to teach you how to flip properties here in Orange County. Just reach out, okay? Okay, let's talk about this place. I did do another video on it a few weeks ago. If you want to find that video, we're going to post it right up here for you so you can look at the full potential and the full rehab of what I'm explaining. I'm just going to explain like really quickly downstairs. What I'm doing now and what you should do. Honestly, if you look at this video that I'm going to post up here, the first thing is to move all this furniture out of here. There was a lot of furniture. There's one truckload that has been taken care of already, and as you can see, I have another truckload. I was hoping that I would get rid of this piano by literally just donating it to somebody. For nothing, for free, you know, come pick it up, curb alert, whatever you want to call it. And this is a, you know, probably second or third time that I've dealt with pianos in rehabs, and nobody wants them. Like, really, nobody wants it. Nobody wants this piano. I mean, it's nice, it works, but for some reason nobody wants this piano. So this is going to go, unfortunately, to the dump. I know you're probably not going to have enough time to reach out to me and say, hey Joe, I want it, I want it. But that's what happens with these type of things. Anyways, as you can see, the carpet's a mess. It's a flip, okay? And people, maybe you're going to ask me in the comments below, well, Joe, you do this for a living, why aren't you flipping this property? And that's a great question, and I'll tell you why. This is a client that I've known for Literally over 40 years. And I don't— I'm a very ethical person and I don't want to give him a number and say, here, I can do it for this. And then him waking up a week later after I rehab it and after he sees the final product and he's going to go, yeah, I don't think I asked enough, Joe. You know, it's like, I think you should kick back some more money on this. So that's why I'm not flipping this property. Not because I can't, not because somebody's not going to make a profit on this, because they are. It's because I'm very ethical and I don't want that phone call from a 40-year-old client saying, yeah, Joe. So in this case, we received 20 offers. Most of them were cash. And we ended up picking up, you know, one at $1,265,000. And that's why we picked that one. That was the highest one. That's right. The quickest close. And at the end of the day, that's what we were all looking for. And believe me, I will sleep a lot better at night knowing that I'm not going to get that phone call from somebody. And then hopefully he sees a job that I've done and he refers me to other people. And maybe somebody else out there that I'm not having this type of relationship has a property and I can buy that one. So That's kind of a relationship that I build up with people. So come on in here. My wife and I spent the weekend literally taking stuff out of the kitchen cabinets, and I had a thrift shop come and look at this stuff. And my wife had already told me, she says, this is all like worthless. It's junk. I mean, it's functional. There's pots. You know, there's pots and pans and stuff. It's functional, but it's not like really anybody wants it. And so again, all this stuff that you see here is literally going to the trash because, yeah, there's no real, you know, potential use or anything like that for this. So it's, it's all literally just going to the trash can. Let me put a light on in here so you can see. The refrigerator, it's going to stay. I'm sorry, the flipper that buys it, they're going to have to deal with that. They didn't want to deal with all the rest of this furniture, so I told them, okay, I'll take that out, but they're going to have to deal with this. Well, we emptied all the stuff from the cabinets on here. Like you can see, if you're into Mickey Mouse, that You know, here's a Mickey Mouse glass. But again, I don't have the time to sell all this stuff. I tried to call a thrift shop guy. He came over, he looked at it, and he said, yeah, there's nothing I can do with this, so I'm out. And so he left it literally like this for me. There was a lot of other material and items in here that were taken out. If you look out in the backyard, it's literally dirt back there. And I think besides the kitchen and maybe a couple of bathrooms upstairs, that's where you're going to spend the most money on is the backyard. The front yard looks fine. That's, that's got good curb appeal. But the backyard, you know, you want to, you want to make that look, you know, like somebody actually lives here, not just dirt. So, you know, what does that look like? Are you going to put a cement slab down here from one end to the other? Are you going to put grass back there. You know, it just depends what you're going to do. There's not much you can do with the hillside there other than, you know, maybe just put some bark and stuff up there just to make it look nice. But that's going to be an expense. The kitchen's normally an expense. The bathrooms are an expense. This is a sunken area, and I would literally just fill this up with cement and make the whole thing level. Okay, yeah, you could probably put some 2x4s in there and then put some wood on top of it, but you're going to tell the difference when you walk from here to here that, oh well, this is kind of soft and squishy, squishy, and so maybe I don't want to do that. Maybe I just want to pour cement. It's not a huge area. Pour cement. I don't like the red brick, so that would go, and this little wet bar area All this goes as well, and you open up this space to make it look a lot larger than it is. I mean, it looks large as it is right now. That whole kitchen would be gone. The lighting would be gone. Can lighting all the way through here. Then you got a nice 1-bedroom area downstairs in case mother-in-law comes over and you have a place for her. And then you also have a bathroom here. And this bathroom was remodeled, so I don't even know that if you were flipping this place that you would even do anything with this bathroom. Like I said, it's been remodeled. So that's really— I mean, you can take a look at this bedroom here, but you know, it's a bedroom, it's a bedroom. The windows need to be replaced, the popcorn ceiling needs to be scraped. So there's, there's a lot of work in this place, but it's not like it's anything unusual. This is a normal flip that we do literally all the time. So anyway, if you want that Cybertruck and you want a property like this, you need to reach out to me and my team and we'll get you signed up to possibly get on our list. So when we get the next one, you're next and ready to go. We need to talk about your timeline, your financing. There's, there is a lot more than just, okay, flip this property and make $100,000 and go buy the Cybertruck. But I'm just showing you the possibilities. If you're looking for a Cybertruck, then there is a possibility that you can get one. Okay, all you have to do is learn how to flip a house like this and start flipping. So if you have any questions, please let me know. Put your comments below, like and subscribe so that I know that you're interested, and don't, don't feel afraid to reach out, whether on the comments or contacting me directly. I would appreciate that.