On Mon, 21 Mar 2016 11:43:15 -0700, Oren wrote:

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.

In this case the flipper appeared to be a "flipping company"
headquartered out of state.