What’s a flipper?
An investment property that is bought as a wreck, usually, fixed up with new kitchen, baths, floors, carpet, walls, everything. They used to make a lot of money, back in the day. We never used to stage these things. That they were so lovely and clean with all new fixtures and fittings was enough! Now, margins are closer and to compete against model homes, even these little flippers have to be neatly appointed to net maximum dollars.
Here’s the story with this one:
The home was purchased by the flipper on 3/9/11 at $280,000 After new upgrades it was listed on 5/10/2011 for $389,000. Linda Barnett staged it on 12/2/11 and it sold on 1/8/12 for $385,000. The home was on the market 206 days before staging; 37 days after staging it was sold. It sold for 99% of the list price at an estimated $73,000 gross profit to the owner. A rough estimate is that around $20,000 was put into the home in upgrades.
What d’you think? Is it worth it to stage a flipper?
You can spend a day of working alongside Linda Barnett, and see her well-oiled staging business machine in action, when you sign up for the SARs Stager Training program in the Indianapolis area.Pin It
Leave a Reply