Same when you are dealing in luxury market price points where you also need 70% deals as your rehabs are typically very large, time consuming, hold times are longer, risks are higher, etc.In summary, you need to use these % guidelines only for quick analysis and not for purchasing decisions.

It is definitely the nicest unit we have, and you could consider it a "luxury" unit.

Even worse, the house only sold for like $400K so they essentially lost $100K in addition to their house.And now, my parent's house will be worth almost $2M once their renovation is complete in a couple of months which they did by refinancing it again, pulling out money to renovate it like they do every 10-15 years, and they bought a luxury STR in Gulf Shores, AL.Finally, in another example, a friend of mine has a house in East San Diego County that burned down in one of the major fires about five years ago that also burned 150+ homes.

Alternatively, I was considering bridging the two units and converting it to a luxury family residence (neighborhood does hit million dollar homes) but not sure if the market will support the price tag (this part is easier, and I think the fact that the current owner who claims to be an investor himself yet hasn't made it work... this tells me it probably isn't favorable towards a flip). it definitely is not favorable as a duplex rental so the only way i see it working is to add doors.

Fortunately we saw the value in creating luxury units and attracting high paying desirable tenants.  

Don’t fall for the “I’m ultra successful” act.

Luxury items and vacations are the first things people cut back on.

Hey Team,I recently became an agent in the NY area and I've always wanted to be able to shoot videos of luxury homes. 

For paint I have been using behr ultra tinted with sherwon Williams accessible beige.  

I only buy units I would live in so they must be top quality but we have no luxury accommodations where I am unless you get into multi million dollar AirBnB rentals which is not my market.