Luxury flipping is the renovation and resale of high-end properties, where both the capital at stake and the potential profit dwarf those of a standard flip.
Log in to followI've spent most of my reading time on notes and paper, so the rehab side is new to me. Every article about luxury flipping uses the word luxury like it has a definition, and then…
Property is a 6,200 sq ft 1994 build on a golf course lot in the top submarket here. Listed 2.65M, been sitting 140 days, seller is an estate. My offer thinking is 2.35M, maybe 2.…
Still new, so bear with me. A hard money lender's site said they fund 90 percent of purchase and 100 percent of rehab on flips, which made me think you could get into a $2M house…
Halfway into a 5,400 sq ft luxury reno I'm managing as a partner rather than as the GC, and the millwork package just blew up. Architect's allowance was 95k for kitchen, butler's…
I priced a renovation on a house listed just under $3M and the owner's broker sent over insurance requirements I've never seen on a job before. Builder's risk at full replacement…
I've been doing this about five months, which is to say I've been reading. An operator I met through my agent is putting together a 4,900 sq ft dated luxury reno and offered me a…
The thing that finally paid me, after six months of research and no deals, was a contract I never closed. The target: houses built between 1988 and 1999, over 5,000 square feet, s…
Closed last Friday on a dated 1990s lake property. Bought at 2.28M off a probate situation, put 520k into it, sold at 3.19M. Net after commissions, carry, and closing was a bit ov…
I run a finish trades business, five years in now, mostly high-end interiors, and I've never structured anything like this. Sponsor is doing a 4.6M target flip, big renovation, a…
Everything I've worked on has been in the $400k to $500k range. There's a house I'm looking at around $1.4M and I can't work out which part of my process stops working. Same crews…
Bought a dated 1970s hillside house in a luxury pocket at 2.05M, put 640k into it, all-in with 9 months of carry sits at 2.87M. Under contract at 3.395M, financing contingency cle…
Project is a 1990s builder-luxury house in a strong high-end submarket, 4,600 square feet, target 4.1M. Purchase 2.44M, reno budgeted at 720k, currently trending 785k before this.…
I've been reading loan documents and partnership agreements more than listings, and one split keeps showing up in this room that nobody seems to settle. Say someone has 700k of re…
Six mainstream flips behind me, purchase prices 300k to 600k, and I've hit the point where the returns per deal don't justify the hours. So I'm looking at a listing I keep going b…
I run property management, so operators call me when a luxury flip stops selling and starts costing. The question they ask is whether to put someone in the house while it waits fo…
I've been trying to figure out which strategy I actually fit, and I spent four months circling a dated 2.4M ranch on a good street in a genuinely luxury pocket. Built 1988, never…
I've been running thin-margin flips at 400k to 600k and I have about 900k of equity that could go one of two ways. A partner wants to put all of it into a single dated 3.4M house…
I've been saving toward a first purchase and I got impatient with 4 percent, so a year and a half ago I put 225k into the second lien position on a luxury flip instead. It paid of…
Looking at a luxury flip as a passive investor. Deck says $2.6M acquisition, $700k renovation budget, $4.2M target resale. Debt at 65 percent of cost, 12 month term with one 6 mon…
Finished a 5,900 sq ft luxury flip in late spring. Bought at 2.6M, all in at 3.68M including a scope overrun I'd rather not relitigate. Listed at 4.45M on comps that supported 4.3…