They are selling you on a "Deal" - be it a true deal, or a pig with lipstick.

Finding a deal on a house that basically just needs lipstick - paint and carpet.

Once you do a total lipstick on a pig, you will have a baseline of what it costs.

Worth re-listening to.Notably for me the idea of slapping "Lipstick on a ($30,000 SFH) Pig" really only yields you a $30,000 Pig and that even though you may have meet a 50% rule or 2% standard the long term costs of CapEx may far out way the cashflow.  

My recommendation would be to first figure out the type of rehabs you want to do (i.e lipstick, full scale remodels, pop tops, etc.), and then pick the individual markets around Denver where sales prices support this level of rehab, including the purchase price and holding costs of course.

He buys them cheap, does the lipstick, and makes some money on the sale.

Just 4-5 the first year, bought at auction, slapped some lipstick on the pig and put it on the market.

What would be the best way to close on an off market deal that you have under contract, the property needs nothing more than lipstick to give the appeal to yield highest FMV.

Hi all ,Envy To those folks that have moved to Indy .You are way ahead of the game ,nothing like being there all day every day .I have spent a lot of time there over the last year and would love to catch up at some of these meetings.I have done a couple of lipstick type re habs and I got a couple waiting to go so always plenty to talk about . 

You could put lipstick on a pig by painting the cabinets, changing the countertops , and get new SS appliances, and new flooring.