Dreams Really Do Come True: Pro Tips from the Property Flippers
- Spring Valley, The Investor's Bank
- Mar 28
- 4 min read
Updated: Mar 29
At 47 Tracey and a friend tested the house flipping waters on a $14,000 project house in Rising Sun, Indiana. It took them 9 months to complete the project and secure a profit. It was through this project she realized her dream of flipping houses was becoming a reality. The taste of working for herself and designing homes for others was too sweet to stop. With the profits from that first flip, equity in her personal residence and encouragement from her family, she took a leap of faith quitting her longtime bartending job and never looking back.
In 2018, Tracey decided to form a single member LLC, Tbyrd Investing & Design, LLC, which gives her complete purchasing and selling power over her flips. Of course, little in this industry is done completely solo. Tracey has been blessed with a great team over the years, including a few dedicated employes. Working alongside her on many of the projects is the very skilled master carpenter Kevin Depew who made Tracey's visions come to life and taught her a lot about the craft. She speaks very highly of Kevin and his work attributing much of her success to his abilities. In an effort to further expand her investment opportunities, she decided to take her business south completing her 1st Florida flip in 2024. If her tenacity in The Sunshine State is any match to her local fervor, she’ll have several flips and a lot of sand under her feet in no time.
Tracey has partnered with Spring Valley to complete many successful renovations. The reel features some of her favorite flips.
Purchase price $171,000; Sale price $272,000; Purchase to sale timeline 3.5 months
Purchase price $160,000; Sale price $237,000; Purchase to sale timeline 2 months
Purchase price $164,000; Sale price $297,000; Purchase to sale timeline 2 months
Purchase price $135,000; Sale price $255,000; Purchase to sale timeline 4 months
Tips from the Flipper
"If I could say anything to anyone it would be to follow your dreams. They're not impossible if you try. Sometimes it's risky but if you don't take a chance, you'll never know what could be. There is nothing better than working for yourself. I honestly love to get up and go to “work” which is something a lot of people cannot say, so I'm very blessed to be where I'm at."- Tracey
1.) To save money on commissions I started using limited service listings with a couple trusted brokers. The broker receives a flat fee for listing my property on MLS and providing a framework for the sale and I do all the negotiations, communications, showings, marketing remarks, pictures and closing work.
2.) I recommend lightly staging homes so people can see the potential. Design is my passion, more so than the real estate aspect of it. Designing and staging a home is my favorite part of the job because I can use my creativity.
3.) It’s important to know where to spend your money. It’s not about using the most expensive things, it’s about what makes sense and how it functions. I'm big on going to Habitat for Humanity and second-hand stores and I’ve recently discovered a new place called CRdeals which has new items at reduced prices.
4.) Always be willing to learn. I've been taught a lot of things over the last 6 years by jumping in and getting my hands dirty. The more work I can confidently do on my own, the more profitable the rehab.
5.) Save what is good and original to give the house more character. I try to always keep original things in historical homes and just sprucing them up. Cabinets if they are old but sturdy are a great area to produce quality, character and costs savings. Strip them, paint them, put new hardware on them and they're going to be beautiful. Glazing bathtubs in old homes is a great idea to preserve the original look and save money.
6.) A good relationship with a financier is important. In 2018 I walked into Spring Valley and met Remo Loreto for the very first time. He asked me to complete 1 house flip under my new business and then come back to the bank to discuss financing options for the future. I did and I have been with them ever since. I can actually call Remo a personal friend of mine and he is amazing to work with. It's a very very important thing to have a bank that supports you and backs you. Spring Valley definitely does that for me. I feel I’m a part of their team. I look forward to the future and continuing my relationship with Spring Valley Bank.
The Financer
Tracey business approach is high volume. Her hard work produces quick turnaround times freeing up capital to jump right into the next flip without missing a beat. We love working with Tracey! Her dedication to her craft has created an almost rags to riches story for herself in a phase of life where many people are looking to slow down. I approached Tracey about doing this blog because her finished products amaze me. The design execution on a very well managed budget is a skill she has mastered. Tracey's signature kitchen offers a perfectly placed island for maximized functionality. Beyond her kitchen and bathroom aesthetics, Tracey's subtle flooring and accent choices have a large impact on the spaces.
Spring Valley Bank is your local community bank offering our investors SOLUTIONS in 2025:
Quick decisions with in-house underwriting
Certainty to close on eligible loans
Availability of real estate & banking experts to listen & stay connected
Flexible financing options for flips, refis & income producing properties
Dependability of an established banking institution
Special Thanks To:
Shawna Noble with Equi Realty
Sarah McGuire with Huff Realty
A monthly series showcasing tips from professional property flippers partnering with Spring Valley.
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