Flipping houses is riveting reality television for some. For others, it's a living.
Thomas Bayles joined the real-estate business at the tail end of the financial crisis to become a full-time flipper. He buys the ugliest houses in desirable neighborhoods in and around Los Angeles, pours money into renovations, and sells the properties for a handsome profit within a few months. Bayles has flipped over 16 abandoned homes and hoarder-havens in his career.
Flipping houses is an increasingly popular side-hustle in the US. Last year, 5.7% of all home sales were flips, according to Attom Data Solutions, a national property database.
Bayles shared some before-and-after photos with us to show that even the grittiest dwellings have unlimited potential — with a little TLC and a lot of cash.
A home that's been long neglected by hoarders, absent landlords, or the elderly would send most potential buyers running. Bayles, a 31-year-old professional flipper, sees opportunity.
These homes typically list for less than what a comparable property with more curb appeal would. "I'm always looking for the ugliest house in the entire neighborhood," Bayles said.
A better deal means a bigger profit for Bayles. He reinvests earnings into buying new properties, which are all managed under his company Urban Asset Group.
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