Don't wish for it, follow our formula to make it work.
We currently average a 30% return on our investments, keep in mind, we know how and where to buy in our local area, we know that we need to spend X amount of the ARV (after repair value) to be able to make money, and we know that it's got to look cool, so cool they can't say no.
The quick rules:
Narrow down your 'hood
Buy right
Make it look snazzy
Sell it
Sounds easy enough, but so many don't make anything when they flip. I'll showing you my formulas, which you can purchase my templates, or ahem, even hire use to help you out during this process. This is really hard info for me to give out, because you're going to be going after the same properties as me right? So, do me a favor - if you're into the urban core like I am, and we buy around the same price range, let's tag team some streets together to bring each others value up! Mmmmk!?
We currently average a 30% return on our investments, keep in mind, we know how and where to buy in our local area, we know that we need to spend X amount of the ARV (after repair value) to be able to make money, and we know that it's got to look cool, so cool they can't say no.
The quick rules:
Narrow down your 'hood
Buy right
Make it look snazzy
Sell it
Sounds easy enough, but so many don't make anything when they flip. I'll showing you my formulas, which you can purchase my templates, or ahem, even hire use to help you out during this process. This is really hard info for me to give out, because you're going to be going after the same properties as me right? So, do me a favor - if you're into the urban core like I am, and we buy around the same price range, let's tag team some streets together to bring each others value up! Mmmmk!?
After and before...
What good design and a lot of love can do.
Why get my help? I LOVE this stuff, I literally get emotional about properties, and pour my heart and soul into each one. As a hippy tree hugger, I often fight with myself over my need to save the earth and my passion for design. I try to save as much as I can during a renovation to reduce our overall footprint, and reduce the trips to the landfill (for you not so earth conservative people, less trips to the land fill = less money to spend).
What good design and a lot of love can do.
Why get my help? I LOVE this stuff, I literally get emotional about properties, and pour my heart and soul into each one. As a hippy tree hugger, I often fight with myself over my need to save the earth and my passion for design. I try to save as much as I can during a renovation to reduce our overall footprint, and reduce the trips to the landfill (for you not so earth conservative people, less trips to the land fill = less money to spend).
MONEY, MONEY, MONEY!
Before you start your search, have you gotten your financing figured out? There are 3 main options here
1 - You're rich. Bravo!
2 - You need a construction loan
3 - You need an investor
There are pro's and con's to all, need some help deciding? We can consult on that with you, learn from our past mistakes so you don't live through some of the headaches we already have.
1 - You're rich. Bravo!
2 - You need a construction loan
3 - You need an investor
There are pro's and con's to all, need some help deciding? We can consult on that with you, learn from our past mistakes so you don't live through some of the headaches we already have.
PICK YOUR 'HOOD YO
So I'm going to talk like I talk, and I might just cuss like a sailor, because that's what I do. Don't mistake my sillyness for not knowing my shit-cool? Narrow down your search if you're just starting, otherwise it's going to get too overwhelming. We can consult on this too, especially if your searching in near our hometown, because how are you going to make your house look? Are you good at making it look traditional? The 'burbs might be your sweet spot, modern? Maybe downtown is more your jam.
1 - Imagine who is going to buy your house
2 - Where do they want to live
3 - Are schools important?
The answer is almost always yes - so do your research! This bit me in the booty once! Just because it's in the city of the best
school district, does NOT mean it's in the district. It took forever to sell and didn't bring in the price it would've if it was in the
right district. #RookieMistake
4 - Set up your search notifications with these neighborhoods on your favorite apps (mine is RedFin)
1 - Imagine who is going to buy your house
2 - Where do they want to live
3 - Are schools important?
The answer is almost always yes - so do your research! This bit me in the booty once! Just because it's in the city of the best
school district, does NOT mean it's in the district. It took forever to sell and didn't bring in the price it would've if it was in the
right district. #RookieMistake
4 - Set up your search notifications with these neighborhoods on your favorite apps (mine is RedFin)
REALTOR?
When buying, why would you not? Its doesn't cost you anything. And a good relationship with a realtor means they've got you on their mind when the next good deal crosses their plate. And one of the biggest lessons you don't know you need them, until you do - is for legal reasons, having somebody on your side that has your interest at heart is invaluable.
So yeah, get a realtor!
We should be able to complete this circle with you shortly, until then - drop us a line for who we suggest, who we know is going to have your back.
So yeah, get a realtor!
We should be able to complete this circle with you shortly, until then - drop us a line for who we suggest, who we know is going to have your back.
HOW LONG?
This is just something you're going to have to get good at. I can do a full renovation in 4 months...6 months if anything goes wrong (rain, backorders, fishing-don't laugh, it happens!) It takes a few weeks to sell once on the market, and 30 days to close. I've seen similar reno's take 2 years, and stay on the market 1 year. Did you catch that there? I'm not making this up, I have my finger on the pulse of national and international design - and can select products that fall within your budget so you are not outpriced in your area.
Construction timeline + Listing Time + Closing Time = Overall Timeframe
4 months + .5 Months + 1 Month = 5.5 Months Overall Timeframe
Construction timeline + Listing Time + Closing Time = Overall Timeframe
4 months + .5 Months + 1 Month = 5.5 Months Overall Timeframe
HOW MUCH DO YOU NEED TO EAT?
Is this your only income needed? Is this your full time gig or just some side cash? Obviously if this is all you do to make money, or all you want to do, you’re going to have to be pretty good at hitting these numbers.
How much do you need to eat (or survive) per month?
I don’t care if you live frugal, paycheck to paycheck or lavish. If it’s $1,000/mo cool, if it’s $300,000 month right on - you just need to know your number.
Keep this number in mind to come up with a quick over under on if a house is a good pick.
How much do you need to eat (or survive) per month?
I don’t care if you live frugal, paycheck to paycheck or lavish. If it’s $1,000/mo cool, if it’s $300,000 month right on - you just need to know your number.
Keep this number in mind to come up with a quick over under on if a house is a good pick.
QUICK OVER UNDER ON BUYING
Overall Timeframe X Income Needed Per Month =
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