Make it the nicest or cheapest house in the neighborhood?

[James H.]

Hello BP fam, I am flipping a home in Albany GA this month. Its in the nicer Northwest area (Solid A/B neighborhood) of the city w good school zones. The average days on the market is 90-120days. Fairly slow but I have factored for it in my holding cost.

Question: Do I fix it to be the best property in the neighborhood w more modern upgrades or the cheapest and do the least? It has good equity so there's room to make both needed repairs and modern upgrades if I choose. Only I am not sure how much I should improve? So I am asking the more experienced flippers on their strategy when it come to how much to upgrade?

Here are the numbers:

House 1)
Purchase $110k
ARV $198k
Needed Repairs $10k (Fix garage door, broken fence, front porch tile, tile master bath)
Additional Upgrades $20k (Upgrade dated kitchen with painted cabinets, new countertops, backsplash, appliances and flooring, upgrade stackstone fireplaces, increase size of master bath shower and upgrade with tile, laminate flooring throughout).

10k would make it the cheapest home for sale and $30 would make it the nicest home for sale. Which should I do?

[Brian Pulaski]

I strive for the nicest with a price right in the neighborhoods sweet spot. I want the buyer to feel they got a great house at a great price, and me to feel like I made good money for what I put in. So far this has worked out!