Before/After House flip in Charlotte NC - Thoughts?

[Mark Kumm]

This is a townhouse that me and my partners flipped in charlotte nc. Here are some before and after pics. It took 2 weeks to renovate, and 3 weeks to sell. We usually have an offer in the first week, but this is our first townhouse, and ive been told its a little harder to sell townhouses. I would like to hear your opinions on that! Any questions or comments on the rehab will be greatly appreciated!

before:

after pics in next post.

[Aaron Mazzrillo]

Is your market hot there? Just curious if you could have lowered your price and sold it as it was and still made the same profit? It looked good in the original pics. Of course, people like to say "a picture says a 1,000 words," but when it comes to real estate, I think it is more appropriate to say "a picture hides 1,000 defects." As a wholesaler, I noticed my rehab and flip people would typically over-rehab properties because that is all know. I attempted to sell a property to one of my long time buyers and his offer to me was ridiculous. He had a $20,000 rehab budget. I told him he was crazy, sent my maintenance guy there to clean the place out spending less than $500, put it on the market, and sold it as-is to a landlord for $25,000 profit. My buyer's wholesale offer price would only have put a $5,000 check in my pocket.

My point being, we don't always need to 'fix and flip.' Sometimes the market justifies a 'clean and flip,' but most fix and flippers can't see past their investor tan paint, stainless steel appliances, and granite counter tops.