Brian and John talk about one of their most profitable flips ever in this week’s podcast. The property was located in Upper Arlington, a neighborhood in Columbus with a great location that demands a high price.
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Covered Topics:
- The buying, rehab, and selling of a property in Upper Arlington, Columbus.
- Various mistakes that Brian and John made because they were still fairly inexperienced.
- Advice for dealing with home inspectors.
Show Notes:
- 01:01 – What’s been going on this week.
- Bank approval on the purchase of some apartments.
- Leads that have been coming in because of this year’s increase in marketing.
- The marketing schedule that John has been following.
- 05:08 – Introducing the Upper Arlington property.
- The prestige of living in this neighborhood.
- 06:28 – How the property came to the guys’ attention.
- Receiving a form through their website but being unable to contact the owner by phone.
- The surprising interior compared to the clean exterior.
- Walking through the house with the owner and connecting her with a real estate agent.
- 09:34 – Buying the house and doing the first renovations.
- The price that Brian and John thought they’d be able to sell the property for.
- Going into the crawlspace and discovering that its floor was concrete.
- More strange flooring in the front doorway.
- 13:41 – Continuing on with the renovation.
- Damaging the new refrigerator that the guys bought while trying to get it in the house.
- Re-siding the whole house.
- Oddities about the roof and the master bathroom.
- Fixing the sunroof and closing off a closet.
- 18:23 – Listing the property for sale.
- Realizing that the comps were way higher than Brian and John’s expected price point.
- Receiving a cash offer within forty-eight hours for the listed price.
- The most particular inspector that the guys have ever experienced.
- 21:19 – Returning to the property about a year after selling it.
- The house being sold for even higher without any more renovations.
Topic Takeaways
- Don’t want until downtime to do marketing, especially direct mail. It can take a while to see the results, so plan ahead.
- Oddities of a house can become selling points with some creativity.
- Hiring a company to deliver and install your appliances will reduce your risk.
