Try this house flip idea!

[Shaniqua Dupree]

So as I have been snowed in my home for 3 straight days I had time to think of some new ideas on investing in real estate. 

Now before i continue I just want to add that I am very optimistic. I like to think outside of what I already know to get me to a higher level in life. I dont believe that their is such thing as reaching your highest potential. If you feel like you have reached your highest highest  then you should try humbling yourself and see how far away you really are. Dont get that confused with getting tired. I say all of this because from this past week alone I can see that nothing is impossible for me. But I digress 

So as I was saying, I know that there are companies that redesign homes but the owner still live there. There are also investors that flip houses that are for sale but have to search for these homes with great profit potential or get a hard money loan. Well why not combine the two. Find non-preforclosed homes that homeowners are selling, offer to upgrade (renovate for higher selling price) in exchange for a percentage of the total sales price plus the money put into the upgrade. For example :

You found a nice couple who want to move into a bigger house and they need to sell their current home. Their house is valued at 200k but most homes in the neighborhood that have been renovated has gone for 290k plus. You renovate with 25k focusing on the features that sell houses which is kitchen, curb appeal, and main/Master bathroom, including appliances (thats what would sell me) you get the value to go up to 285k. They sell for 285k and you get 10% of sales price. 

Sounds like a win win to me. If this sounds off or weird or great and inspirational please let me know. 

Thanks,

Shaniqua Dupree 

[Shelli Callan]

Good question Shaniqua Dupree, My husband and I funded the rehab, our goal was to get the property on the market asap.  The kids were not so motivated, they still wanted a life, silly kids!  There were a couple of things we felt were important to do that they didn't and they wanted to do somethings that we didn't think was necessary. Dad is a perfectionist and would never think of cutting a corner, our young people were not so picky.  Once it was on the market all was good, my daughter is the stager and extreme house cleaner so it always showed really well.  I don't remember what we made honestly.  I was the listing agent so I made money as the agent on the sale that was the best part for me.