The key to a profitable flip is in two ingredients: buy well and do NOT go over the budget. You must hit them both. In this episode, Marci joins to share stories from her flipping career, which spans across 17 years and 27 flips in Calgary and Ottawa.
The key to a profitable flip is in two ingredients: buy well and do NOT go over the budget. You must hit them both. In this episode, Marci joins to share stories from her flipping career, which spans across 17 years and 27 flips in Calgary and Ottawa.
“I love being my own boss in flipping, I’m in control of my own destiny. It’s freedom, it’s a wonderful thing.”
Marci started out by purchasing properties as rentals, and then after a couple of years realizing their potential as flips. After moving to Ottawa, she found a niche market and researched it – focusing on two sister buildings in Montreal. Now on her eight flip within those buildings, she’s created a market in that building by improving and raising the value of these two buildings. Every flip she does goes over the sale prices of other real estate agents there.
With Covid, Marci started doing most of her own construction on her units through learning from YouTube. Now it’s easy – once you do it once yourself, you can learn where you can improve it and the next time it’s better. By the third unit, you are a pro. She has become the poster woman for sweat equity, saving value through paying herself first.
“I do a better job than my other contractors because I actually care, it’s my work and my property.”
You must humanize the property purchasing experience, the highest offer is not always the winner. There are always emotional costs to selling, lean on that in your offers. Flipping provides freedom, your own schedule and full cut of the profits. Time the markets, don’t underestimate the value of paint and get started today!
