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Flipping a Personal Look

Posted by Debbie Komlo under For Buyers, For Sellers, For Realty Professionals, General Information

I love flipping properties, watching a place that needs love and maintenance go to being a home. My husband and I have always bought personal family homes that require us to fix it up. Once we are done we move on to the next project.

Last year Tom and I bought a real flip property, we did not live in it, but went their everyday to fix it up to a place that someone can proudly call home. It was a wonderful home in Jones Dairy Farm on Jumper Drive. We made $8,000.00 dollars on it. Today we are looking at a property in Youngsville that we could do the same. This home is alittle bit more work and would require removal and replacement of windows, flooring and many other items. It's alittle but scarey because someone had come in and took shots at the house with a gun- my thoughts great house, great bones, but will someone come back and do the same damage when we are done causing more damage and money out the window?

My experience with flipping properties is that unless you have a lot of money to spend on properties in higher price ranges you probably will not make a lot of money. I am like, I am sure a lot of other people who are interested in flipping watch the TV programs that demonstrate flipping- I envy those flippers that are making $100,000.00 to $20,000.00 on each flip that they do. My husband and I do the little house, no we don't make alot of money but it's money we did'nt have before and the houses sell quickly when we are done because the homes we flip are in price ranges under $175,000.00.

The other thing that I learned is to have lots of knowledge on what repairs will cost, be willing to do alot of the work yourself or be able to find cheap and knowledgeable contractors. Be ready to make offers really fast and learn how to make them competitive

I am adding a link in my website that investors can receive free information on good investment deals in the area. I invite you to check it out and sign up to get access to the information. http://www.trianglehot/properties.com

Debbie Komlo

E-Pro, Broker

Coldwell Banker Advantage

(919)931-8602

Posted by Debbie in Raleigh Your Real Estate Advantage on 04/13/2008 09:15 AM

Comments (4)

flipping, real estate, debbie komlo

This post has been included in North Carolina Information Wake County, NC Information

4 Comments on Flipping a Personal Look

APR

2008

Good blog. Unfortunately the Florida Nevada and California flippers bought multiple properties and could not close on any of them. Thus contributing in a big way to the current housing mess. You put it perspective and give good sound advise on how to do this correctly. Thanks

I have been involved with Fixers and Flips for 20 years. When first starting out, doing the small projects like you are doing is great training. Because your profit margins are small you have to learn great disipline in spending.

You should consider also joining the Fixers Flips and Rehabs group. If you are interested I could send you a link.