Expert House Flipper Makes 600% Return, Laughs in Face of Investors

So we did a flip off episode a couple of months ago and I bet on James, Kathy bet on Henry and I'm going to be honest, I prematurely gave James a trophy because he got a 590% annualized return, which he's holding up right now. It's a great, it's a great trophy. Wow. Yes, I searched high and low for it, but now Henry, if you actually beat that, I'll get you two trophies or a bigger one. So I will ship him the trophy. So my purchase price was $93,000. Okay. That's the killer on that deal. I need to write this down. Yeah. My renovation came in at just $90,000 on the renovation. So you're all in, well, soft costs. What do we got? And then holding costs were 14,000. Realtor commission is going to be 14,400 and we sold 288,000. So you were all in for 211,400. Is that right? So yeah, we got 90 plus 93 plus 14 plus 14. Okay. So your profit was 76,600. Very solid. That's excellent. Okay. What were your hold periods and how did you finance it? Oh, no. Cause we did this as a 20% down deal. Assuming 20% down of that 93. Weren't we doing 20% down of the total project is how we were going to run it. 20% of the 183? Yeah. Okay. So you invested 36.6 and you earned 76.6. Okay. That's a 209% return. What's the hold period? That was what? Six months? Okay. So that would be, if it's six months exactly, it'd be a 420% annualized return, which is huge. It's a monster. But James did 590. But we have to account for the value of the lot that I'm not selling that I'm keeping. Oh no, I knew this was going to jack me. Wait, did you parcel it off? Yes. I parceled it off. Oh, and you're going to sell it? I'm keeping it. Oh, what's the value? $15,000. Okay. And he's like, I'm going to sell the lot just so I can try to beat you. And I'm like, don't do that. Appraise it and we'll throw it in the deal. Okay. Let me try that again. So that's 91,600. Oh no, this is going to be tight. This is going to be tight. We just buy each other a stake. Everyone gets a stake. This is only six months though. I felt like we shot this thing back because we sold ours in April. Oh, James, we're okay. It's still, it would be a 501% annualized return to James's 590. James just flipped his in like 70 days. It was just so fast. It was just so quick. He did. It was stupid. It was stupid fast. Do Henry and I get to pick the steakhouse? Yes, but it has to be not a chain restaurant. How about that? I'm about to send y'all to the sizzler. Yeah, exactly. I knew you were, but I want to go somewhere fancy. Both of you over 500% annualized return is insane. So well done to both of you. Yeah. Incredible. We're just splitting hairs at this point. Dude, that is a monster deal. I knew. Yeah. I actually, I thought Henry was still going to pull it out. That mold remediation killed me, man. Cause it was the time. If you did it in four months, it would have been, it would have been, you would have won. Well, and it was just the, you know, a less expensive deal. You get higher cash on cash returns typically. And so in that extra lot, I was like, dude, even if it's like, cause if that lot was 25 grand, it would change the whole thing. That would have been the kicker. Yeah. It would have had it. It's not that expensive. Nah, it's only, it's only a 15 grand. I'm impressed with both of you. Kathy and I just sat here and did nothing. So well done. Except you invested Dave. So you were the, you were the smarter one. It did. So it's good. Yeah. So I already bought James a steak dinner. So, uh, but we'll take, we'll take another one. Yeah. I'm going to be eating my steak on our next podcast. Yeah. We should podcast from whatever steakhouse we go to. Or we could just like do that gold belly service from like some steakhouse in like New York or something. And then I'll have the same steak from the same place live on the air. All right. Well, this was fun. That's a wrap on our flip off. You know, we did the show like six, seven months ago, but you both did amazing. Great content. A lot of fun. Hope you guys all appreciated this. I am okay. Losing to such an experienced, uh, flipper like James Daynard by just a few percentage points. I'll take that all day long. Dude. Yeah. You're just going to be crying into your 500% profits. Not that bad. The next flip off should be what we each Dave, you and I each get one of them as a coach and they coach us through a flip. Oh, that would be super fun. That would be great. Or we just have to flip a house, Cathy, with no help. And see how much we each lose. Whoever loses the least amount of money is the winner. All right. Well, thank you guys so much for watching this. We appreciate it. So, uh, throw us a, like, if you enjoyed this and want to see more of this behind the scenes content, we'll make more of it for you. Thanks again, everyone.