The cosmetic flip is the lighter end of the renovation spectrum.
Log in to followI own a service business and I'm about to try one of these on my own. There are two things nobody will give me a clear answer on. First, the house will sit empty while we paint an…
Helping on the paperwork side of a small flip and the general contractor's proposal asks for 40 percent at signing, 40 percent at what he calls substantial completion, 20 percent…
I read the ATTOM number about typical gross returns falling to around 25 percent, lowest since 2008, and my first reaction was that 25 percent sounds enormous. My savings account…
First one I wrote the scope myself off YouTube and a lot of opinions. Went 41 percent over budget. Second one I did something simple. Before I closed, I paid a listing agent 500 t…
The carpet came up yesterday and there's red oak under all of it. Dull, one bedroom has pet stains that went through the finish, but the boards are flat and tight and nothing is c…
I own rentals because I like things that keep working when I'm not looking at them. But the numbers on cosmetic flips keep showing up in my feed and the argument is that a 6 to 8…
I don't have a property. I'm trying to build the budget sheet first so I'm not doing arithmetic in someone's driveway. So far I have paint, flooring, light fixtures, cabinet hardw…
Every explanation of the 70 percent rule says the same sentence: pay no more than 70 percent of ARV minus repairs. I can do that arithmetic. What I can't figure out is where the b…
Bought at 291 in a metro that ran hot through 2021 and 2022. 1,900 square feet, 2004 build, everything sound. Scope 34k of paint, flooring, fixtures, kitchen counters and applianc…
Trades background, so I've been on plenty of flips as the guy doing the work and never as the guy signing anything. Now I'm reading the other side of it and something bugs me. The…
1,500 square foot two story, bought at 171, spent 24 on paint, LVP, carpet upstairs, fixtures, and a bathroom vanity swap. All-in 202 with closing and two months of carry. My agen…
Five years into running my own service business, I've done work on plenty of flips without ever understanding the vocabulary the owners use on the phone. Everybody says ARV. After…
I put 61k into a light rehab as a passive participant, 12 percent with a 6 point exit fee on a 60 day projected hold, secured second behind a hard money first. Operator buys at 24…
Still working out which strategy actually suits me and I'm suspicious of my own reasons for liking this one. The appeal is obvious: short project, no structural work, you see the…
Looking at funding short term paper on light rehabs and the draw mechanics don't map. On a full gut you have framing, rough mechanical, drywall, and each one is a visible mileston…
Dated house, mid seventies, and the plan was paint, flooring, fixtures, light kitchen refresh. Nothing behind a wall. Then the electrician I brought in for can lights told me the…
Bought a small two bed cottage, dated but sound, 900 square feet. Budget was 26,000 cosmetic. Three weeks in I've spent 4,200 and nothing I've paid for is visible. Dumpster and ha…
I've been learning how private money moves and I want to understand the operator side before I ever fund anyone. If someone told me they were doing their first cosmetic flip, what…
Still finishing my licensing coursework, so I can't represent anyone yet, but a friend has asked me to look at a house he wants to flip and tell him what it'll sell for after. He'…
I've been underwriting other people's flip requests for a while and I'm finally looking at doing one myself, which means I'm on the other side of the questions I usually ask. The…