Join my program, Transform Flipper Academy, to learn to flip houses the right way. As a house flipper of 6 years, I've flipped over 50 houses with a six-figure profit on average. I hope to teach more people about the ins and outs of house flipping so they can get out of the rat race and achieve financial freedom like I did. Apply here: www.transformflipperacademy.com You can also purchase my book Flipping Houses Quickstart Guide on amazon: amazon.com/dp/1636100309/?tag... Watch next: Roller Coaster House Flip Before and After ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-8v8JtXKBHCo.html
In up market buy at 70% ARV in down market buy at 60-65% ARV. Real estate is a cycle of procent apreciation and procent depreciation or stagnation. In boom credit cycle apreciation go from 20-30-40-50-6-80-100% in 1 2- years in some market and after will crash to the historical level price to local income ratio. USA House Market big bubble in some city becouse of credit - money creation cycle of gov and central bank policy for defficite and excedent cycle.
One change I would suggest is adding a border of river rock to keep the mulch from spilling out onto the concrete. It's a tiny little thing but it draws the buyer's eye to the sidewalk instead of the beautiful front door you have chosen.
I think this is an interest rate driven problem. The work is impeccable, and very tasty. The problem is that the Fed is making cash tight and expensive at the moment.
Thanks Elisa for sharing the great details as usual. I bet that yard added a good amount to the budget. I had a house sit for 3 months before finally getting an offer from July to October, and took a nearly 0 margin, so I feel your pain. Thanks for being honest on the channel too and not presenting it like it’s always easy
Everyone is going to throw in their two cents, and try and tell you what you should have done different ! You did a Fabulous job on your flip house !!! It looks totally up to date and refreshingly modern !!! I don't think you could have done anything better than what you did ! The house looks spectacular !!! The fact that it didn't sell immediately like you are used to, has nothing to do with your decision to fix this house up, it's just the market ! No one wins all the time, it's part of life and to be expected !!! You are doing a phenomenal job, keep it up !!! Times are difficult on everyone right now, we just need to roll with the punches !!! It will sell to a very happy family !!! 😃
I love what you did, especially in the backyard. where you connected all of the levels and made it so welcoming and as social as a person wants it to be. The rest of it is done well as you always do, I love how you kept the light coming through in general. Painted bricks are fine with me, the house I bought not to flip, about a year and a half ago has painted bricks, and I never thought I would like them, but it makes such a difference. I will never undo it! Good work, as always!
Every flipped house I looked at when buying couldn't pass the inspection without major red flags. All the paint in the world will not hide HVAC, plumbing, termite, and foundation issues. When I estimated what it would cost to "fix" the flip, it would have been 59% of the sale price, higher on some. I spent probably $2000 on inspections before I found one I could "afford" to take on.
I am a fan of your flips and have learned so much by putting your creative ideas into action. I also flip homes, and have had success trying different styles, including Victorian, horse ranch, desert, contemporary, etc. Like you, most of my homes so far luckily sell within a month or less. This home in your video is very thoughtfully done, and the end result is wonderful. I love the openness and how you maximized the great views. Also how you changed the laundry area downstairs into usable space. The light colors chosen make the interior of the home seem more expansive as well. I see this current financial envirornment of high interest rates a great time to buy. I am open to hold for an indeterminate time as homes for sale in TX, NM, and AZ are currently flooding the market where I primarily do flips.. When sales warm up eventually, and interest rates come down, it will be a big relief. Flipping should become easier again.
I really can't believe you didn't sell that beautiful house right away. Even with the market, the way it is that's an amazing job you did. Sorry you cut down that tree that apparently was obstructing the view. Wish they had just trimmed it down. As usual, your stagers are right on point! Less is more. They Always have clean, simple but elegant. I love that they don't try to "fill in" each & every space. It's so distracting when dtagers place so many unnecessary things all over just to fill a space. Space is good & your stagers have what it takes to make everything aesthetically pleasing. How you sell quickly! Good luck. 🥰
Everything looks amazing! A few details that I noticed… the exterior front window trim was painted grey but the window trim was white on the rear of the house. I also would have faced the fireplace in the same marble-look tile/Schluter edging as the bathrooms vs painting the brick and upgraded the exterior deck railing to be more appealing/let the beautiful views and backyard speak for themselves. - If I’m seated, I’m looking at railing because it’s what is at eye-level.
Im in entirely complete agreement with regard to the FP. It's the one thing that just jumps off the page as a cheap-out. My attention was to the small bathrooms and lack of dual vanity anywhere but it's a compact footprint and little anyone can do but that Fire Place stood out like "HEY!! There's a WHOLE lot more could have been done here!!" and it was left SO lack-luster. Not good!! Would have taken so little to make a huge "WOW"!
Really good choices in the finishes of this flip. I like the way you modernized it without a huge reno. I had to sell one of my flips to another investor because the market was softening too quickly. I still made money because I bought at a huge discount but gave up about 30k in profit.
With so much private decking and such a beautiful view, I'd be over the moon if I ever get to live here ❤. Also this house could be a nice Airbnb because there's so much space for entertaining and parties.
From the outside th house looks very small, with no windows, and kind of ugly. But on the inside it's like another dimension and it's huge and beautiful. So sorry you having a hard time with it. Maybe it's just the economy or location. Lovely home.
This is a beautiful home. You have done the make over and update great 👍🏽
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I wonder if a different color on the house would make it stand out more, its so white now. I'm not a fan of the fireplace brick paint, the grey makes me think of my high school's painted concrete. Can you tell us what the potential buyers didn't like about the home? Would be great to know their opinions.
This market condition is very difficult for house flipping. But I like this flipping as well. I was wondering if a larger retaining wall and some Italian cypress trees would make better curb appear
Hi Elisa, thank you for the breakdown on your project. May I ask what paint color you used for the walls? It's a nice refreshing color tied together with the blonde floors.
I loved the bloopers. I got to see another side of you. Your funny 😄 Your flips are always beautiful. Everytime I see one of your videos I think to myself, "I would love to buy a flipped house from you" 🥰 It would be a dream come true. Too bad I I live in SoCal not NorCal
Just paint the brickwork out the front the same grey colour as the fireplace inside AND fix up the front landscaping and it will sell without any delay. The front lets down the whole house which is otherwise done exceptionally well
The staging was off! I saw no area for a media room. The living room furniture allowed no access to the view or fireplace. Downstairs the couch was put against the wall , that a entertainment area could have been .
Interior is awesome as always. I think a big deck at the entrance would have been better. The front garden doesn’t really serve a purpose. So buyers may have been put off knowing they would have to change it themselves. Nice views tho!
Some plants take decades to look nice. I hate that they all get removed. Newly planted yards look sparse and ugly. If a buyer knows little about plants one might not appreciate what has been done. Nice yard though I loved the rose bush though shame it's gone now.
I love all your choices for the renovation. I noticed you are sticking with white kitchen cabinets. Do you think you will continue using white in 2023?
I actually prefer how the original exterior better, it was more inviting. Especially the front decked patio. Maybe would've changed the blue to a another neutral color but not white. The rest of the home was on point though. Good job!
I love your videos! Where did you get the light over the table, please! And I really appreciate your honesty about the pros and cons of flipping. I hope you sold this house by now!
Others in the comments seems to like the white exterior. Personally I thought the natural brick was more attractive. I like brick...non painted brick. For paint I would choose a complimentary color like green or a dark teal. White if not paired with natural elements or color can give a cold sterile feel that is not homey. White/off white usually reminds me of cheap apartments instead of classy warm and elegant homes. The exception might be a colonial style home where the white with black is traditional. Basically I would choose my pallet to fit the home and neighborhood.
yes, effect of fed decision on fed fund rate brings great impact on the house market. Fortunately, Fed expect the rate to peak next year and I expect they will reduce the rate Q3 2023.
I don't see a $$ return on spending money. replacing real hardwood flooring that appeared to be in great shape with composite flooring. Cost $$ and time. Nice job on kitchen! Backyard is nice!
to add a feeling of warmth try adding a colorful, red,blue, gray, green oriental rug in front of the fireplace. Otherwise I love the interior. (no ceiling fans hooray)
Your video was well produced and evenly balanced. Keep up the great work. As mom and pop investors, we decided now wasn’t the time to buy more investment properties. We have never flipped homes but have done some short term rentals. Currently we converted all our short term properties into long term rentals starting with one year leases. After that we negotiate a one to three year lease or it automatically becomes a month to month situation. In our state, we need to provide 30 day notice from either party to terminate the lease. It takes big balls to flip nowadays so we cheer you on. What is your number one priority when doing a flip? Is it staying on budget? Or doing quality work ? Or something else?
If you're open to refinancing and holding on for a year you can sell this on a lease option + 10% on the ARV. Happy to help advise if you would like guidance
If you have good cash flow consider renting it for the time being before the market bounces to favor sellers. One of my client's business model was solely based on appreciation, they'd flip the house but to improve their rent income, he said it had two advantages: if he wants to sell it in a good market it'd go immediately for profit and if the market goes down there would be more people looking to rent a nice house that can't afford buying one. His rent was often double when compared to other crappy homes in the neighborhood. With high rent income he'd wait a few years and that way he was never loosing on his flips, with the note that he was using his own cash and sat on a big pile of money so he didn't care about 1M this way or that way...
I really enjoy your channel! You do a great job! The interior paint color just is "off" for this house. It should be a very light grey or even a nice white.
I am sorry for what you are going through, and I think you did a great job. this is a great video, and an awesome house. good luck to you, I gave you a like and a subscribe.
Why did the Fed raise rates? Because of inflation. Why do we have inflation? Because of Biden and Democrats excessive spending. I’ve been in the mortgage industry for over 30 years. I predicated this would all happen when Biden was elected president. I sold my home in June last year at the peak of the market. We can expect continue rate increases, falling home prices and a recession in 2023.
Why not link to where the home is listed on your video? Your video has engaged with 62k people in 9 days, surely some of those people are potential buyers.
