Lean, clean and quick is the name of the flipping game! In this episode, Natalie shares details about her latest flip house –a detached starter family home flipped in 3 days for a substantial profit!
“What is the least amount of work for the least amount of money, and the shortest amount of time that I can invest in this place to get a higher return? How much of an extra return am I able to get if I do more? Is it worth me doing?”
Natalie’s flipping process is streamlined and very successful. Systems are meant to work over and over, and hers does the trick every time. In a flip, time exposure is your best friend or your worst enemy. So, when she purchased this particular fixer upper, she realized time wasn’t on her side as the market was changing by the week at lightning speed. Natalie determined that a mini-flip would lead to the greatest return. She repainted, repaired the HVAC, plumbing and electrical issues, installed new carpet and tackled some basic cosmetic issues that would spruce up the house, and increase the value. Every house needs a memorable element! Listen as Natalie tells you what she did with the interior doors! You won’t believe it works.
Some key elements Natalie looks for in a flip is focusing her search on a family community. The house must have at least 3 bedrooms above grade, a reasonable main bathroom with tub, and a good kitchen layout. It’s all about hedging risks. What is the market doing, who’s the likely buyer, and who is going to live here? What must you do to get a buyer to choose this house over something else? And how do you make it as aesthetically pleasing as possible knowing that people are buying at the top of their budget and they’re not going to have any money left over to do anything? How do you get buyers to say YES from the second they walk up to the house?
“Flipping is awesome. It’s fun, it’s creative, and I have to say… It’s so much more enjoyable to do it in 3 days. You get in, get out, make your money… done!”
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