Repeat Success, Don't Get Cute With It
TV shows about flipping properties make it look like a very easy going, flashy and creative process. I am not saying that the business of flipping can't be all 3 of those things, but from my experience in working with flippers that have been doing this for years, they are anything but flashy or creative. Professional flippers are interested in one thing and that is the bottom line. They do not want to risk losing money, so they want to repeat what is working and is proven in the current market in regards to the property they are flipping. You will find that many flippers make their properties the exact same on the inside. They don't try to put personal touches on it or bring in anything that jeopardizes appealing to the majority of people seeing it. They know exactly what other flipped properties have done in the area and they repeat that. They know that the other property they are basing their projected end values on sold and exactly what it looked like. They know that if they put out the same end product that they have the best shot at getting the same number that the comparable sold for. If you have a successful formula, stick to it and get cute with your money that you make on your personal spending. Don't get cute with gambling on the inside of a property when renovating it.
Ian Walsh
215.839.3271
[email protected]
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