Another Happy Investor with Altura.
I recently had a first time flipper wanting to get into the real estate investment game, but they didn’t know the first thing about it. I scheduled a meeting with the husband and wife to find out what their goals were and to explain the process of how to get started. After months of working with them and waiting to find just the right “homerun” property for them, it finally surfaced. I walked them through the property and explained the rehab that would be required to make top dollar for their investment.
Being very excited and nervous at the same time, they bought the property and began the rehab process. I would check in on their progress every few days and discuss their rehab decisions. As most new flippers do, they were deciding on a lot of unnecessary expenses that would look beautiful but not necessary and just eat up on their profits.
Once construction began, I told them to go ahead and put a “FOR SALE” in the yard to get the word out to “passer-bys” that the house was going to be on the market. This created a lot of interest, and people would actually stop in and look around while the construction was going on. The investors would walk them through and show them the improvement plans they had and give them an idea of what the end results would be.
By the time the property rehab was complete, they had a bidding war on their hands and ended up selling the property for $20,000 over their initial asking price! Needless to say, they were ecstatic and well on their way to buying more. They are now on their third investment property and moving in the right direction with both rehab expenses and profits.