Nov
20
Flip = CLOSED. Proving You Can Flip a House in ANY Market
Posted by Christopher Raichart under For Buyers, For Sellers, For Realty Professionals, General Information
After a few weeks of being under contract, the flip house was closed yesterday. Our purchase price was $125k with $32k in improvements, and it closed for $225k. Not bad for a few weeks of work.You don’t make your money when you sell your flip home; you make it when you buy it. Buying right is the key to making money on flips. If the numbers don’t add up, then PASS on that property. People tend to get attached to deals, and it kills their profit. I met the young couple that bought the home, and they said they fell in love with it the moment they saw the home. What sealed the deal was that everything was done in the home. This is the key; first time home buyers are used to living in rentals where mostly everything works and the exteriors are usually maintained. They don’t want to worry about having to fix this issue or that. Turn key properties sell in any market; just make sure you follow through and finish them 100%.Raichart Out…….
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