Trustee sale flip tour – Las Vegas

Hello welcome to Todd Miller TV. Out in front of a house purchased at the Trustee Sale. I’m gonna give you a tour of it then go for the numbers at the very end of the video. So here’s the house, you can see it’s about a 15 year old house, it’s a big one story, it is on a half acre lot. So it’s got all this nice landscaping. And you can kinda look down the road. We’re out on the East side of town in an area called “Sunset Manor” out by, just way out East. So, the house is on this street; All pretty much look like this. So I’ll take you inside and show you the house and then we’ll go and we’ll talk about the numbers, what the numbers were, what the investor net is gonna be on this. See it’s got some pretty descent landscaping here. So, here we go. This is like the little living room here. The book case looks like. And technically not a bedroom because of that, which makes it an office, it could be a bedroom if you put a closet in there; technically be a bedroom. And then it got this just big room. It’s hard to see how big it is. It’s pretty nice. Big columns. Pretty cool! It looks like a laundry room. Light up, there we go. Washer/Dryer over there. It’s got a bathroom. And this is the read room, I guess it’s a bedroom. Another bedroom. Whoah! look at that. So it’s actually kinda nice, they have this closet. It’s got this built-ins. Master bedroom. There’s the lock smith changing the locks. That’s the shower right there. And then it’s got a nice built-ins in here. Shelving units. Pretty nice. It’s hard to see but the house is gonna need paint and carpet. And couple other minor things will get fixed before we sell it to somebody. It’s got a gas fireplace. Too shavy! Nice big kitchen with granite counter tops and stainless appliances.
Todd: you’re good man!
Man: I’m good?
Todd: Yeah, bye! Yeah!
Then a little dining nook right there. Then to the awesome part here, the outside. It’s got this really nice covered patio; that door goes to the/right there goes to the Master. So you can come out to this really nice backyard. It’s got an amazing pool. And a jacuzzi spa back there. Let’s walk around he house. It’s got a really nice landscaping. You can see it’s pretty good, pretty well taken cared of. It’s got a built-in barbecue out here that’s stainless steel. And then, a nice pool and a spa. It’s self cleaning too. You see those little/those round things, they pop-up and the pool cleans itself. This pool, nothing’s been done to it. It stays pretty clean. And you can kinda see the back of the house. AC unit’s in the roof, it’s pretty nice. And it’s got that little feature there. You can sit around and have drinks or whatever. And then that back there is a trampoline. So it’s dug out, so you can do the trampoline on ground level, which is pretty nice. It’s got a storage shed there. And then you saw the front of the house. The back of the house here has this, a basketball hoop. And it’s got all this parking. You can put an RV back here. This is really amazing. Let me get in the shade. It’s about a 102 out here today in September. Okay, so you’re probably be wondering what the numbers are and I’ll go through ’em. This was purchased at the Trustee Sale for $167,200 and then it was/they’re probably about 2 or 3 thousand dollars worth of fees, they had to be paid on top of that to close Escrow and everything. You saw from the inside it’s gonna be painted, carpeted, some minor things we’ll fix up, that’s another 5/6 grand,maybe 7 grand total. And then with Realtor commissions when we sell the house at probably total expenses for everything will be about $20,000. That will take the acquisition price of this. From 167 to about 187. Market value on this house were currently at 240, that’s very reasonable. The comps in this neighborhood anywhere from 220 to 265. So 240, at 220 it’s a fire sale someone’s gonna buy it immediately if we had it listed for that. We’ve already had showings even though we haven’t done anything to the house. We just put it in the MLS. So, 167 up to 187 even if we only sell for 237 that’s a nice $50,000 profit based on a 167 purchase which is probably gonna be turned total from beginning to end in a three months or less whole process. So, that’s a pretty nice return on investment, 30 to 40%, 30% at least. And then if you that a couple times a year that’s a great deal. So anyway, that is the update I wanted to share he property, share the numbers with you. These deals are out there. Trustee sale is just one of the great way to go out and grab ’em. Just remember you gotta pay cash when doing them through the Trustee sale and then you have to have somebody who knows what they’re doing fixing them up. So, I just wanna share those numbers with you. That’s my update for today and hope to see you on another video. Thanks