Currently I’ve got three homes that I’m in my “Pageant Dad” phase… In order for you to get a feel for the flipping diaries, I think it’s important to share the homes I’m currently working on and I’ll continue to blog about them as things progress.
#1 – A townhouse located in Central Phoenix. It has 3 bedrooms, 2 bathrooms and is a pool facing unit. If everything goes accordingly to plan, we’ll have purchased, flipped, and sold it all within 60 days which is an awesome turn around! This home went under contract in just three days with offers over list price, but it didn’t appraise for an FHA loan (A flippers biggest insult) so rather then letting it sit on market for conventional offer instead which is always risky, we dropped it to the appraisal price for the buyer. This was my first townhouse project and hopefully isn’t my last. It’s a great concept since all of the attention is focused on the interior rather then the exterior. Once a home is under contract, there is less focus on the “pageant” reference, and more focus on the safety of the house. So many people go in and out of the house during this time that a lot can happen… I constantly go by to make sure the security lights are on, the doors locked, the AC is off (inspectors love to turn it on and not turn it off when they’re done)… This home will be closing this shortly! Another successful flip! To see all the before and after photos go to:
http://www.mrjamesjudge.com/parkway-townhouse.html
#2 – Buccanner is a beautiful lake home property located in Sun City (A 55+ community) that had a huge four car garage which wasn’t necessary for the area, therefore we converted part of the garage into a laundry room and a third bedroom. This home was done in a very traditional style because it will appeal to the demographic of buyers for that area. This home was the first one that I ever fully staged, furniture and all. So much work, but worth it for potential buyers to really be able to envision the house as a home. Some buyers really struggle with imagining a home filled with things which is why furnished homes typically tend to sell quicker. Buccanner has only been on the market for about three weeks and we’ve had some solid showings, but summer is the worst time to try and sell a home in a 55+ community because the majority of residents are snow birds and only live there part time, so there is a good chance this home will sit on the market longer which means a lot more “pageant dad” time making sure that the home always looks its best. To see all the before and after photos go to:
http://www.mrjamesjudge.com/buccaneer-way.html
#3 – Orange is the bungalow in the city. I did a blog post upon it’s completion about a week ago. Such a cute home with a slight industrial modern vibe. It has a huge detached garage and a small guest casita/studio which is an awesome retreat to have in the city. In the design This home has been getting some great showings, but as a result requires a lot more “pageant dad” time because there are so many dirty footsteps on the floors and smudges on the glass, the grass needs to continue to be cut, all the outdoor plants need to be watered so they survive the crazy summer heat, and the home requires some constant attention. This home has been one of my favorite flips, and I have high hopes for it. To see all the before and after photos go to:
http://www.mrjamesjudge.com/orange-drive.html
I always love the “we’ve got an offer” phone call from my realtior Shane. Of course that is when the negotiationg begins which is always bitter sweet, and sometimes frustrating but selling them is always the goal.
MY FLIP TIP: After you’ve completed a home and it’s for sale on the market, try to make a schedule for yourself to check on the home on a regular basis. When you have a system established it becomes an easy part or your routine to stop by and do check-ins.
FLIPPING DIARIES 