Bargain Blocks Keith and Evan make highs of $55K profits on homes
Keith Bynum and Evan Thomas, affectionately known as the “Bargain Block guys,” have made a name for themselves by transforming humble homes into beautiful living spaces. Their journey involves acquiring affordable properties and revamping them to sell for a profit. With the assistance of real estate whiz Shea Hicks-Whitfield, this HGTV duo takes on the challenge of revitalizing small residences, and the results are nothing short of impressive. Many of these homes fetch profits of up to $55,000 when they change hands. In this article, we’ll delve into the foundation of Keith and Evan’s successful venture and explore their impressive net worth.
Keith Bynum’s Net Worth:
Keith, who has partnered with Evan in their renovation business for over four years, boasts an estimated net worth of $1.5 million. Notably, he channels his own resources into the restoration of neighborhoods in Detroit. Currently serving as the president of Omnia, INC, a renovation and lifestyle company he founded in 2017, Keith is deeply committed to his business endeavors. In addition to their home renovation enterprise, the duo is the proud owner of NINE Furniture+Design in Detroit. Keith’s journey took flight in January 2017 when he purchased a house in Detroit for a mere $12,000. His vision led him to persuade Thomas to join him in the venture, transforming rundown homes into profitable investments.
Evan Thomas’ Fortune:
Evan, the carpenter of the Bargain Block team, boasts a net worth of just under $1 million, as reported by Stars Offline. Remarkably, Evan holds a PhD from the University of Colorado at Boulder, demonstrating his diverse talents. In an interview with Estate Envy, Evan discussed the pivotal decision he faced after completing graduate school:
“I had just finished graduate school, and I was sort of at a crossroads. I could try and get a job with my degree or start this business with Keith in Michigan.”
Evan’s choice led him on a rewarding path, where he collaborates closely with his partner to create remarkable transformations. However, the road to financial success was not without its challenges. During the pandemic, they navigated the renovation of homes for their HGTV show while simultaneously venturing into the restoration of vintage campers.
The Bargain Block Approach:
The Bargain Block guys follow a strategic approach to their HGTV renovations. They often acquire dilapidated homes for as little as $1,000 from the Detroit Land Bank and undertake comprehensive renovations themselves, occasionally enlisting local assistance as needed. Remarkably, the cost of these renovations typically falls within the range of $40,000 to $45,000. Upon completion, Keith and Evan sell these revitalized homes for a substantial profit, often between $70,000 to $100,000, as reported by Stars Offline. Their highest recorded profit per house stands at an impressive $55,000, with co-star Shea Hicks-Whitfield playing a significant role in the selling process. To showcase these homes in the best light, the couple utilizes furniture from their own store for staging. If homebuyers opt to keep the staged furniture, they must pay an additional $3,000 to the dynamic duo.
My Final Opinion, Keith and Evan’s journey from acquiring modest properties to turning them into lucrative investments is a testament to their dedication and expertise in the world of renovation and real estate. With a commitment to transforming neighborhoods and creating beautiful living spaces, this duo has not only achieved financial success but has also left a lasting impact on the homes they’ve revitalized.
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