Hey Friends!

We are thrilled to share our first house flip with all of you! It was definitely an adventure, but we learned so much and are very thankful it was a positive experience!

The experience and education on this project were invaluable, especially as we often help advise clients on the risks and benefits of flipping properties.

Our two key takeaways from this experience… MARGIN and TEAM.

MARGIN is so important because most homes (even the distressed ones) don’t offer enough margin in our current housing market to make a profit, especially without taking on a lot of risk. So our advice is to make sure there are PLENTY of margins to account for the cost of the purchase, the remodel, your carrying costs, and, of course… the unknown! Thankfully, we had the margin we needed on this one, but even so, it still resulted in some restless nights!

The other key is the team in place. We partnered with our wonderful friends and colleagues, John and Ana Simmons, and between the ease of decision-making and each of us bringing our gifts and skills to the table - something that could have been cumbersome turned out to be fun and enjoyable as we each shared the workload. We also had the best team of vendors who worked diligently to bring this to the finish line!

The best part? We were able to transform this distressed and unlivable house into a home again. Seeing that transformation take shape step by step was even more rewarding than we could have imagined. Seeing the final outcome and the new life that we were able to breathe into this house was often times emotional - especially when we envisioned who might be the new happy homeowner.

You can check out some of the before/after photos below. Looking back, we wish we would have taken more before photos and progress photos, but as you can imagine, we found ourselves getting so wrapped up in the excitement and the urgency of the project!

Have you flipped a property before? Are you thinking you’d like to try? Let us know your thoughts and comments below!