Do You Ever Flip Houses WITHOUT Rehabbing?

[Tony Nguyen]

Hey everyone,

I'm always so used to putting 20k+ into each house we flip to ensure the quality is there. I was thinking that since there are not a ton of deals that are crossing paths with us that make sense to put in 20k+ in rehab, what would it be like putting in zero or maybe 1k, 2k or a max of 5k, making it presentable and flipping it that way? Do you any of you guys do that? You'd probably do this if you just happened to get a good deal on a cosmetically challenged conditioned house, nothing major. Just trying to be a little more out of the box!

thanks :cool:

[James Martin]

Because of the market and few retail buyers and not wanting to deal with FHA buyers, I do flips to cash buyers. I call it preflipping. Some of my buyers are landlords wanting cash flow. When i come across a great property with a good spread and decent rental return, I will go into the property, trash it out, paint walls, ceiling and doors one color. Clean the yard and put mulch down. It is my way of cleaning up the home for buyer inspection. It cost me about $1500 to do and my market for profits is around $3,000 to $7,000. My hold time my be 45 days. I try to have two buyers in place thats interested before I buy, if not I market on the mls and it seems to move.