John Crenshaw is a real-estate investor in Austin, Texas who has flipped TK houses so far.Home flippers make the most return on properties they buy for cheap and then extensively renovate.Crenshaw described his process and broke down the profit he made on each flip.
The living room of the house as it looked when Crenshaw bought it, top, and the renovated living room with an adjacent open kitchen, bottom.The house was "full of junk on junk on junk," he said, and emptying it required several dumpsters. Crenshaw said "the energy was terrible" during his first walkthrough of this house. He cleaned up the landscaping, top, and painted the garage door a dark color, bottom.Crenshaw said he purchased this house from online wholesaler New Western, a company that he believes prices their properties too high, giving flippers little room for profit.
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