Flippers get attached to their project homes just like any other home buyer. They might even be more engrossed in the process because it represents a return on investment. It involves purchasing a home at a lower value, fixing it up, and then selling it to a first-time home buyer.
To write an offer, one factors in the cost of materials, labor, and carrying and selling expenses. Which is precisely why a listing agent will receive a wild wide range of offers from potential flippers. Everybody is different. Some investors buy materials wholesale. Others hire low-cost labor. End values vary. It's all about estimating profit.
You can read more in my personal blog today and see a bunch of photos at this link: Looking to Flip a Probate Home in North Highlands?
Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.