The cosmetic flip is the lighter end of the renovation spectrum.
Log in to followIf the whole scope is paint, flooring, fixtures, a vanity swap and landscaping, and no wall is opened and no system is replaced, is there any filing that happens at all? Or is it…
This was a rental I got talked into flipping instead, and the arithmetic looked airtight on paper. ARV 288 from three comps within a quarter mile, all closed inside 90 days. Repai…
My spreadsheet has 340 rows in it from the MLS, and after running the 70 percent rule on all of them, exactly four ever penciled. Both of the ones I offered on went to someone pay…
I mostly do land so treat me as an outsider on this. I ran a house near me as an exercise. ARV I'd defend is 325,000. Cosmetic scope, paint, floors, fixtures, kitchen refresh, cal…
My usual business is land and long holds, so this is out of my lane. A 1960s ranch came to me through a family situation, 1,320 square feet, clean inspection, everything works and…
The number I keep tripping over is the reported typical flip: buy near 260,000, resell near 325,000, gross profit around 65,000, gross return roughly 25 percent, described as the…
Three bed one and a half bath, 1,340 square feet, built 1962, sound roof and a furnace from 2019. Seller wants 148 and will take a two week close. Comps in the pocket are 232 to 2…
I've been pricing my first deal from the outside for a while and I finally built the daily hold number instead of a lump sum contingency. Interest on hard money at a rate I'd have…
1,100 square foot ranch, contract at 132, ARV I had at 205, scope I had at 24. First deal, six months of looking, and I got excited enough that I priced LVP and picked a paint col…
I ask the questions I'd have been embarrassed to ask out loud, so here's one with numbers. Underwriting a house where I pulled six comps in a half mile radius, all sold in the las…
I've been running the formula on everything in a 20 mile radius. ARV times 0.70, minus repairs, and that's the most I can pay. On a house listed at 189 where I think ARV is 250 an…
The house is a 1970s three bedroom, everything works, carpet is shot, kitchen is oak with the orange finish everyone hates. Layout is fine. The boxes are solid and the doors are a…
Under contract on a 1,480 square foot three bed two bath in a 1978 tract subdivision, midwest, inspection cleared with nothing structural. Original kitchen, carpet over slab in th…
Coming from a totally different career so forgive me. I read somewhere that a flip is cosmetic as long as you don't touch plumbing or electrical, and that if you don't open a wall…
I've been comparing two finished cosmetic flips in the same metro, different price bands, and the material specs were nearly identical. Same builder white on the walls, same LVP,…
I've been building my scope sheets off walkthrough video and photos, and I'm now arguing with myself about when the sheet becomes final. Two approaches I've watched people use. Lo…