Adventures in House Flipping!

An article by Stacy Barry

We are on our 4^th flip house! We started last summer and we have sold 3. WE just listed number 4 and it looks like a very positive and quick sell! My teammate Sam and I spend time researching and finding homes that are a great fit for the “normal” or “average” buyer. We focus on the Indy metro area and look for homes below 150 to purchase. Although we hire a general contractor to do the work on the homes we purchase we never bite off more than we can chew. Replacing roofs, furnaces, and ac units are one thing. We do not entertain homes with anything that would be a major structural repair. When selling the home every dollar counts so we hope to see most of the repairs needed upfront. A hidden or unexpected expense eats away quickly at your bottom gain. We also always have our homes inspected by our reliable inspector before we fork over the funds! By the time we purchase the home we are well aware of our expenses and what are net should be. We work with our contractor as we wait for closing and price out the repairs with him. We also shop for appliances and line up all the other contractors such as painters and carpet people. The day we close the project is well underway with a 30 day time frame in which we plan to list the home for sale! We add our final touches by using an amazing staging company that makes the home look warm, inviting and loved! Our photographer is the last detail besides a thorough cleaning prior to the home being listed. We have a great marketing plan and use many tools to sell our homes. Thus far our first flip sold in the first week! The second home sold in about 45 days (in the middle of winter) Our third flip took about 60 days (tougher location). I think our 4^th home that was just put on the market will sell in less than 30 days!