Purchase price: $490,000 Cash invested: $5,000 Sale price: $520,000 Beautiful SFH built in 20184 Bedrooms 2 BathroomsLiving area 2714 sqft Lot 10018 sqft Luxury living community with HOA that allows short term rentals like AirBnBonly needed a lipstick flip What made you interested in investing in this type of deal?

Obviously you should be careful not to put lipstick on a pig, or throw good money after bad, but typically, recently rehabbed properties will typically sell/rent/be appraised for more than something that has not.

If you don't have all three of those things, I would recommend finding something that is more of a lipstick rehab to get your feet wet. 

All of the properties need renovations from lipstick to medium/full rehabs.

The areas a BRRR can kinda work today is if get a really cheap building in cheap rougher areas put a little lipstick on it and cashout.

The lipstick flips don’t make the kind of returns I’m looking for around my area.So you don’t refinance once you’re finished with the renovation?

Some people are definitely amazing at putting lipstick on a pig in terms of hiding expensive items that need replacement to the untrained (me. 

Nowadays sellers aren't able to put lipstick on a pig and get 50 offers with many way above list price. 

Doing some lipstick updates (bathroom is just about done, kitchen will probably be next year.

This was a lipstick flip as I call them.