Finish Your Flip BEFORE Hitting the Market!

By
Real Estate Agent with Real Living Kee Realty
https://activerain.com/droplet/KZR

 

For those that don't know a Flip is a term used for a house that was bought at a wholesale price, rehabbed or improved and then put back on the market for retail. The goal is for the investor to improve the house and make a profit.

 

Being a full time REALTOR(r) I've shown quite a few Flips while working with buyer clients. The one thing I can't understand is why some of these flippers put the home on the market when it's not complete, and then try and get top dollar? I don't know if it's their agent rushing them, wanting to get it on the market or if the client(s) are insisting or both!

 

This past summer the market has been hot in our local area with inventory low, especially for private sales, making it a sellers market. However I've been in quite a few flips with different clients, that were incomplete. Why not take an extra week and get the home complete? Believe me it will make a difference, especially if you want top dollar. I've shown some with: paint spilled on the kitchen floor ( yes you read that correctly), missing moldings, unfinished bathrooms and kitchens. Tools and supplies lying all over the counters, etc. 

You can guess what happened. The buyers were turned off, as was I. Yes, I can see around things and see the potential, but when you are asking a buyer to pay at the top of the price range and this is what they see, they get turned off.

 

 

Sellers - take that extra time and finish your project, do good work, include kitchen appliances and you will profit more in the long run.

Buyers - make sure you have a Buyers Agent working for you and always get a private home inspection.

 

 

If you would like more information on St. Clair Shores Real Estate or the surrounding Macomb County Real Estate Market, give me a call or email and I'd be happy to assist you. Want to know what your St. Clair Shores Home is Worth? Contact me for a free Market Analysis. No pressure, No obligation.

 

To start searching for homes for sale, sign up for a free Listingbook account.

 

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_______________________________________________________________________________________________

 

Looking for a Great agent in Macomb County? Let me GOOGLE one for you. 
 

 Mike Mitchell -REALTOR®                                                               
 Real Living Kee Realty 

 

Call / Text: (586) 291-2652

 

 Email Me

 

http://www.mikemitchell.realtor

Search Macomb County MI Homes for Sale   

                             

 Mike Mitchell - Real Living Kee Realty     

                

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Rainer
9,201
Margaret Drzal
Warrenton, VA

So true, especially in today's market where FHA can require receipts for work done! 

Nov 04, 2012 01:54 AM #1
Rainmaker
717,378
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Mike-I agree with you on getting the house completed before placing it on the market. The psychological and emotional advantage can be translated into dollars, in my opinion.

Nov 04, 2012 01:58 AM #2
Rainer
234,647
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Mike - see it all the time - flippers want a good margin and return on their work but the work needs to be good and complete. Regards Dave

Nov 04, 2012 03:25 AM #3
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Rainmaker
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Mike Mitchell

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