The Bargain Block guys have laid foundations to serious wealth with $55K profits Thu 11 August 2022 14:00 Celine Byford
William Harris Keith Bynum and Evan Thomas, otherwise known as the “Bargain Block guys”, are known for turning a basic home into a beautiful place to live. Their career involves purchasing properties for cheap and selling them for profit.
With the help of Shea Hicks-Whitfield on hand to work her real estate magic, the HGTV duo usually find small residencies which need some serious renovating, and it certainly isn’t easy to turn them around.
However, it’s all worth it, as most of the homes earn them a $55K profit once sold. Let’s look into just how Keith and Evan have laid foundations to a hefty fortune for themselves, and find out how much they are worth.
Keith Bynum’s net worth
Keith, who has been successfully running his renovation business alongside Evan for more than four years, has accumulated an estimated $1.5 million. He even uses his own money to restore neighborhoods around Detroit!
He is currently the president of Omnia, INC, a renovation and lifestyle company he has run since 2017, as per his LinkedIn. Apart from their home renovation business, the couple also own NINE Furniture+Design in Detroit.
It all started when, in January 2017, Keith flew to Detroit where he bought a house for $12,000, as reported on The List. He encouraged Thomas to venture to the area with him to buy homes, renovate them, and make a profit.
Inside Evan Thomas’ fortune
Evan is the carpenter on Bargain Block. With just under $1 million in net worth to his name, as per Stars Offline, he also holds a PhD from the University of Colorado at Boulder. In an interview with Estate Envy, Evan said:
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.
And so he did. Evan is now working closely with his partner, but money didn’t always come easy. To stay afloat during the pandemic, they renovated homes for the HGTV show as well as began rehabbing vintage campers.
I should be at the grocery store but #BargainBlock is on @hgtv and I can't pull away from the amazing work that Keith, Evan & @Shea_Alicia do. The design from nothing and refurbished stuff is inspiring. I can never see the potential but when they put it together it is Magic.
— Drew Dorgan (@drewdorgan) August 7, 2022
The Bargain Block guys pay for HGTV renos
They often purchase rundown homes for as cheap as $1000 from Detroit Land Bank and carry out all the renovations by themselves, sometimes hiring local help whenever needed. The cost of renovations are under $40,000 to $45,000.
Keith and Evan then sell them for a profit, as per Stars Offline, between $70,000 to $100,000. The most profit they make per house is estimated to be around $55,000 – with co-star Shea Hicks-Whitfield often helping them to sell.
The couple use furniture from their own store to stage houses that are ready to sell. Then if the homebuyers choose to keep the furniture, the clients would have to pay the duo an extra $3,000.
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WATCH BARGAIN BLOCK ON HGTV EVERY WEDNESDAY AT 9/8C
