How long did it take your FLIP to sell?

[Rolanda Eldridge]

Usually my flips are easier because I offer owner financing. The last one took 2 weeks and it cash flows over $600. But I'm planning a new project to sell outright..It's in a marginal area with o.k schools. 3/2 with one car garage, metal roof, siding.. I'm allowing 3 months to sell outright...Is this unreasonable? How long did it take your FLIP to sell?

[Bryan H.]

Originally posted by @Rolanda Eldridge:

@Bryan H...thanks for input! Do you market on MLS? Do you offer bonus to selling agent? What techniques to sell quickly?

My quick sell technique starts before the rehab. First, who is your end buyer? Yuppies? Families? Empty Nesters? Retirees? You must know who is buying homes in that area and rehab it with them in mind.

Then price the rehab for 5% less than the comps.

I like a little staging, just to give it a homey feeling and get rid of the empty, hollow feeling.

MLS is a must. I have used discount listing agents but offer full commission to buyers agent. No bonuses, no other gimmicks.

If you want to help drive up the price, hit the MLS on Monday and don't have any showings until your open house on the following Sunday. Interested people will see it, do early drive buys and show up on Sunday. Then when the place is buzzing, the fear of loss will kick in. It's the best looking, lowest price home in the area and EVERYONE wants it!