THIS FLIP WAS A HOME RUN!

[Lesley Resnick]

This was a project I did with an out of town investor, the house is in Jacksonville, Florida and he lives on the west coast. Originally he was reluctant to buy the house. It was under contract 2x. He almost talked himself out of it.  But after all, he made a great decision and it was amazingly profitable.

Numbers:

80k Purchase – cash

35k – Reno

Roof, siding, paint inside and out

Kitchen cabinets and countertop resurfaced

Plank floor

New tile in bathroom

Repair electric and plumbing

Home staging 1% of sale price

6 month project

165k sale price less 6k closing costs

44k Profit

Regrettably, this will probably be the most profitable flip I am involved with for the foreseeable future. It all lined up perfectly.

I love home staging. The company I use is top notch and it makes all the difference in trying to sell the house. Buyers often have trouble picturing what it will look like with furniture. 

BEFORE PHOTOS

AFTER PHOTOS

[Lesley Resnick]

Originally posted by @Shaun Morgan:

Place came out great @Lesley Resnick ! Was this a situation where the investor financially backed the project and you ran it, I.e. you scheduled the work, found the contractors, sold the house for him etc? Essentially the investors boots in the ground.  Or were you strictly the listing agent? If you handled everything do you have a partnership with the investor or is this is a service you offer as part of your business?

As a practice, I am involved in the entire project.  You could say it is a service.  I sourced the property, on or off market,  I have a project management business that runs reno.  I do 3-5 deals a month with my contractors, I get wholesale pricing and stellar service.   I work with the staging company to set up the house and I list it.