I purchased a foreclosure from a bank for $42,033. The house was 1,726 sq ft. including an addition. The addition of approximately 400 sq. ft. was in terrible condition.

I then painted everything inside and out. Then I had new carpet installed in the bedrooms and I put down new laminate flooring in the great room and dining area. I also, put new vinyl squares in the kitchen and bathrooms. Once this was done I bought new appliances for the kitchen. I spent $13,000 to rehab the property.

I sold this first property for a profit of $25,000 on this property and should do another $25,000 on a second one, which I’ve only had for 90 days and have already had 10 inquiries for it and I haven't even put a sign up yet!

PMI’s lessons were the most important; when I bought a foreclosure, I referred to the lessons as I went along and they told me what to do. The terminology was especially helpful.

PMI was also very helpful when I called in with questions, they taught me not to flip the expensive houses because of the economy so I’m looking for rehab houses around the $100,000 mark.

Clinton P.