See how a 27-year-old real-estate investor bought 3 homes — one for as little as $65,000 — and flipped them for profit

AJ LaTraceMar 8, 2023, 02:03 IST

John Crenshaw is a real-estate investor in Austin, Texas who has flipped TK houses so far.John Crenshaw

Home flippers make the most return on properties they buy for cheap and then extensively renovate.
Austin real-estate investor John Crenshaw shared before-and-after photos of three homes he fixed up.

John Crenshaw bought his first investment property for $65,000 in Killeen, Texas — about an hour's drive north of Austin — in 2021. He was 25 at the time.

Crenshaw purchased a rundown 1,300-square-foot ranch-style house in Killeen, Texas for $65,000. The old facade, top, and the revamped exterior, bottom.John Crenshaw

The house's small garage had been converted into a living space but Crenshaw added a window near the fireplace to give the room more light. Believe it or not, this is the same room.

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.John Crenshaw

The house's small garage had been converted into a living space but Crenshaw added a window near the fireplace to give the room more light. Believe it or not, this is the same room.

The house was "full of junk on junk on junk," he said, and emptying it required several dumpsters.

The top photo shows one corner of the garage turned living room. The bottom photo is of the same space, taken from a different angle, after the renovation.John Crenshaw

A family relocating from California to Texas purchased the renovated home for $195,000, over asking price, Crenshaw said. He added that he walked away with a $55,0000 profit after renovation expenses and closing costs.

The bathroom of the house was messy and dirty when he bought it, top, and required a full demolition and rehab, bottom.John Crenshaw

A family relocating from California to Texas purchased the renovated home for $195,000, over asking price, Crenshaw said. He added that he walked away with a $55,0000 profit after renovation expenses and closing costs.

Crenshaw purchased this house in Harker Heights — which neighbors Killeen and is about an hour north of Austin — for $188,000 and sold it for $232,000 after renovations. He said he just broke even on this project.

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.John Crenshaw

Crenshaw purchased this house in Harker Heights — which neighbors Killeen and is about an hour north of Austin — for $188,000 and sold it for $232,000 after renovations. He said he just broke even on this project.

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.

Crenshaw pulled up old carpet, top, and replaced it with new flooring, bottom.John Crenshaw

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.

Crenshaw wanted accent walls to provide contrast, so he painted the brick wall where the fireplace is black and added custom-made wood trim in a zig-zag pattern to the side wall.

Before listing a house for sale, Crenshaw rents or borrows furniture to stage his properties for photos, bottom.John Crenshaw

Crenshaw wanted accent walls to provide contrast, so he painted the brick wall where the fireplace is black and added custom-made wood trim in a zig-zag pattern to the side wall.

Crenshaw said that his renovation ideas come from "a lot of Pinterest, a lot of Etsy, and a lot of effort."

Crenshaw updated the drab 1970s galley kitchen with white tile and stainless-steel appliances that have a more contemporary look.John Crenshaw

Crenshaw had better luck with this house, also in Harker Heights, which he bought from another investor for $140,000.

Like Crenshaw's other flips, the exterior of the home was painted to give it more curb appeal.John Crenshaw

Crenshaw said purchasing the house from an inexperienced investor who gave up partway through his own renovation allowed him to pick the home up for a bargain and make extra profit.

Before-and-after images of the back of the house show how it was repainted.John Crenshaw

Crenshaw said purchasing the house from an inexperienced investor who gave up partway through his own renovation allowed him to pick the home up for a bargain and make extra profit.

The previous investor had done much of the interior demolition and had cabinets ready to be installed.

The wall behind the sink, top, was knocked down to open the house up.John Crenshaw

Completing the renovation took a couple of months and cost just $35,000 total, Crenshaw said.

The old, cramped kitchen, top, was opened up and all new appliances were installed, bottom.John Crenshaw

Crenshaw listed the house for $265,000 and sold slightly over ask, he said, resulting in a "huge profit" of about $90,000 after deducting his $175,000 investment.

New recessed lighting and a ceiling fan were added in a bedroom.John Crenshaw

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See how a 27-year-old real-estate investor bought 3 homes &mdash; one for as little as $65,000 &mdash; and flipped them for profit

John Crenshaw bought his first investment property for $65,000 in Killeen, Texas — about an hour's drive north of Austin — in 2021. He was 25 at the time.

The house's small garage had been converted into a living space but Crenshaw added a window near the fireplace to give the room more light. Believe it or not, this is the same room.

The house was "full of junk on junk on junk," he said, and emptying it required several dumpsters.

A family relocating from California to Texas purchased the renovated home for $195,000, over asking price, Crenshaw said. He added that he walked away with a $55,0000 profit after renovation expenses and closing costs.

Crenshaw purchased this house in Harker Heights — which neighbors Killeen and is about an hour north of Austin — for $188,000 and sold it for $232,000 after renovations. He said he just broke even on this project.

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.

Crenshaw wanted accent walls to provide contrast, so he painted the brick wall where the fireplace is black and added custom-made wood trim in a zig-zag pattern to the side wall.

Crenshaw said that his renovation ideas come from "a lot of Pinterest, a lot of Etsy, and a lot of effort."

Crenshaw had better luck with this house, also in Harker Heights, which he bought from another investor for $140,000.

Crenshaw said purchasing the house from an inexperienced investor who gave up partway through his own renovation allowed him to pick the home up for a bargain and make extra profit.

The previous investor had done much of the interior demolition and had cabinets ready to be installed.

Completing the renovation took a couple of months and cost just $35,000 total, Crenshaw said.

Crenshaw listed the house for $265,000 and sold slightly over ask, he said, resulting in a "huge profit" of about $90,000 after deducting his $175,000 investment.

See how a 27-year-old real-estate investor bought 3 homes — one for as little as $65,000 — and flipped them for profit