Opinion on Staging a Flip?

[Sean M.]

There are plenty of opinions out there about staging a home to provide a higher sales price and/or faster sale.

Is this recommended for flips? It seems like the cost is fairly high to stage, thus eating into the flip profit. But, if it adds more value it may be worth it. What opinions do you have?

[Michael Krupp]

Hey Folks, here are some humble comments from a flipper in the Baltimore area that has been in the business for almost 20 years. I am actually a flipper, landlord, hard money lender, and real estate investor coach. I know there are lots of ideas and options out there. I think if you look at the statistics, you will find that most often, staged houses sell faster and for more money at most price points. Yes, in a hot market, where the inventory is low, you can get away without it. If you are in a competitive market, everything you do helps. I always stage, at all price points, it is a cost of doing business to me. I have learned the hard way, that while I cannot guarantee success such as a quick sale at the highest price, I can minimize mine and others risks, by removing as many roadblocks to a sale as possible. Most buyers simply have no vision, and that is why you stage or virtual stage. I am doing my first virtual staging right now on a new construction project that I built, it went live today. I have done drone video, and looked into matterport photography which I am told is cool, though not that effective. You can also stage the house yourself, take photos, etc. I have found that leverage is key, not just with money, even more so with time. Once time is gone, you never get it back. I hire a stager, a realtor, landscaper, etc. I find my time is best spent finding and managing deals, not doing the work myself. This is only me. For someone new and getting started, there are always bootstrapping options, though don't forget about your time. ROT is just as important as ROI.