A few years back a friend and I bought a tiny little 2 bedroom home for the huge price of only $2000. Back then, we thought like everybody does that there is a fortune to make in the real estate market flipping houses. We hadn't invested much money but the house was ours and we began to clean it up and get ready for the resale of the property.
Now I will say it is rare to find a house this cheap. (and it was worth every penney- lol) We were excited, and young, so we jumped in and started our project. In all it took us about 2 and a half months of some of the most intense cleaning and scrubbing I had ever done. My partner in this project did alot of the yard work and she ended up with one of the worst cases of posion Ivy I have ever saw. She was done for about a week as the doctor tried to make her life bearable again. I lucked out and never caught the posion ivy, but I got the great jobs of cleaning up years of dirty baby diapers that were thrown on a back porch. You get the idea- this was a helluva lot of work.
The end of the project was painting the house- we chose yellow with white trim. (because these colors give the best curb appeal- and it is true- it worked)
We sold the house for $12,000 and we were so happy in our endeavor- we knew we were on to something. We made $10,000 dollars!! Then as tax time was rolling around I sat down to do the numbers- all the costs were calculated- the paint, the cleaning supplies, new flooring- a couple of new windows- medical bills -the list went on and on. Then I had to figure the amount of hours that it took us for the project. (we skipped a few days of our regular jobs to work on this money making project)
When all was said and done we both made about $3.68 hour- our house flipping days were over.
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