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The Anatomy of a Flip

Monday, February 3, 2020   /   by Veronica Robles

The Anatomy of a Flip


Contrary to the glitz and the glam you see on HGTV, real estate investment is hard work (e.g., flying into Phoenix, renting a car to drive to Tucson, meeting with general contractors and touring two properties, then flying back in the same day). Today we’re doing something a little unprecedented: We’re carefully dissecting a real-life flip we pulled off this past year. 


We bought the home at 2637 E 22nd St. for $68,000, threw $35,000 toward renovations, and came out of it up $27,000. We’ll share the good, the bad, and the ugly of how we were able to make it happen. Though some of our negotiation secrets we’ll keep close to the chest, we will walk you through our thought process in determining a market opportunity as well as our sales strategy. 


Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most: 


2:39—How we found the property on 22nd Street through the MLS

5:20—How we decided the property would be a good investment using MLS tools 

11:54—Explaining the fundamental investment logic that shaped our decision

13:00—Tour of the property amidst renovations 

20:10—Photo gallery tour of the renovated property 

25:00—Summarizing our selling strategy for the house

27:40—Wrapping things up 


The main takeaway here is that we priced aggressively, put a nice product on the market, and sold it fast for a decent profit. Remember: Not every flip is a highlight reel home run. Make a profit, then move on to the next one. 


If you found this helpful, subscribe to our YouTube channel and like this video. As always, reach out to us if you have any real estate needs or questions. We’re happy to help. 

 
Keller Williams Southern Arizona and Team Masterpiece of NOVA® Home Loans
Jerimiah Taylor Team
1745 E River Road Suite 245
Tucson, AZ 85718
520-477-7653

Margaret Taylor
6245 E. Broadway Blvd., Suite 400
Tucson, AZ 85711
Phone: 520.422.2021
Cell: 520.603.9262
NMLS# 156089
Masterpiece@novahomeloans.com
www.masterpiecelending.com



Margaret Taylor, Sr. Loan Officer, NMLS 156089 |Business phone: 520.202.4847|NOVA(r) Home Loans NMLS 3087 |6245 E. Broadway Blvd., Suite 400, Tucson, AZ 85711 | BK 0902429 |Licensed in AZ, CA, NV, NM, and TX| Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act #4131230. Also licensed by the CA-DBO under the CFL #6036566. Loans made or arranged pursuant to a California Financing Law License.| Privacy Policy | Fair Lending Statement | NMLS Consumer Access| Equal Housing Opportunity |The information featured here and its intent is for advertising only.
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