New KISS Flipper Scores $20k on First DealA few short weeks ago I happen to be gallivanting the Dallas, TX area with the red heads (for a friend’s wedding, slash weekend getaway) and happen to catch lunch with one Gary Grubbs.

Gary is a KISS Flipping success story who had just that day (right before lunch actually) closed his first ever deal – a textbook KISS flip in every way.

So what else could I do but whip out my trusty little flip video and coax him into spilling the story (yeah, I’m that guy who always has a flip video stashed in my cargo pants for just such an occasion 🙂 )

So here’s my “Splash N’ Dash” study vid with Gary “the Grubbmeister”. It’s pretty short. Please leave a comment below after watching. You’re crazy and I love hearing what you have to say…

click-play

Quick Deal Details:

  • The Suspect: Gary Grubbs, Dallas, TX
  • The Deal: “Joyce”

The Overview:

  • Textbook kiss flipping deal in McKinney, TX (just an average market, nothing special)
  • ARV: $99k-ish
  • Purch: $51k
  • Sold: $75.5k
  • Net Profit: little over $20k
  • Transaction duration: 2 months (Purchased 4/3, sold 6/4)
  • Bridge Financing: Used hard money

Noteworthy Points:

  • First deal ever
  • In true KISS Flipping style, he focused on one specific school zone to find this (Big fish, small pond)
  • Also exclusively used Realtor contacts for rehab
  • Basically just made phone calls, invested maybe 10 hours or so ($2,000/hr or so, not too shabby 🙂 )

“Ahas” or “Gotchas”:

  • Sell a better quality product than most are expecting, at below retail market value
  • Next time, would analyze sales price a little better (left money on the table)

Next Deal:

Working his second KISS flip now (another textbook).  Expected profit should have been $35k but looks like it will only be $20 due to mistakes estimating foundation and plumbing.  (I’ll do another case study with him after it’s wrapped up).

NOTE: Gary is a KISS Flipper.  KISS Flipping is a surprisingly straightforward, simple profit model for today’s house flipper.  KF is opened again for a narrow window of time (just a few days).  To find out more, visit KISSflipping.com.

Please comment below!

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