Welcome to Bob and Mark’s Big Ole’ “$440K NET” Case Study
Live broadcast of this event begins:
Thursday, March 17, 2011 at 8pm EST (7 CST, 6 MST, 5 PST)
Option 1 – Join Us on the Phone:
Option 2 – Join Via Online Webcast:
1) Find out more about the 2-Day KISS Intensive here…
2) Find out more about the KISS Flipping “Bleeding Edge” Masters here…
Noteworthy: Some Interesting Aspects and Lessons Learned On This Deal:
- ARV X 65% – Rehab (35% is for profit + soft costs)
- Aiming for a 25% profit margin on the sales price
- Know (and be motivated by) your daily holding costs (“$700/day on this one – yikes!)
- Cultivate relationships with “Players”
- You can’t steal in slow motion – be ready and willing to take decisive action
- Know when to roll the dice and when not to
- When dealing with an “un-comp-able” house, find and rely heavily on a true market expert
- The value of strategic partnerships – complimenting and specializing
- Look under your “beauty rings”
- Do the right thing, even when it costs you money
- The weekend after New Year is a great target list date
- To get a market expert (like Christian) on your side, build authentic rapport first, and make it well worth their while to work with you (like quadruple dipping)
- Keep your finger on the pulse of your micro-market during any rehab project – the market you start with may not be the market you end up selling in.
- Expect hiccups…the bigger the deal, the more the hiccups…
- Find out what the market wants, then find that and serve it up on a silver platter. Focus on what the market’s asking for.
- With good strategy and creativity, you can accomplish a “level 10″ kitchen at a “level 7″ price point.
- Supply and demand matter in this market more than ever before.
- Consider investing in a “space consultant” prior to rehab for any higher end deals.
- Always beautifully stage your higher end deals – and really you should do it on your regular end deals too!
- Understand the city’s expectations (in terms of code) before you head into a deal with any noteworthy prior history.
