Pro Tips from the Property Flippers November 2023 Edition
Featured Pro Flipper: Tru Life Properties, LLC
Justin Rice and his crew at Tru Life Properties have certainly earned the title of "Pro" when it comes to providing property flipping pro tips. Their passion for creating exceptional living spaces began in 2012. The company was initially focused on acquiring personal investment properties, fix-and-flips, and new single family construction. Over time, they shifted their focus to building expertly crafted custom homes and remodeling existing homes for clients in the community. This shift in mentality from personal investing to serving clients has propelled Tru Life into a multifaceted business. To learn more about their products visit their website, TruLifeProperties.com.
Tru Life recently partnered with Spring Valley on a flip at 905 Surrey Trail in Union TWP, converting this once tired 3 bedroom into a 4 bedroom, 3.5 bathroom situated on a private lot in the serene neighborhood of Surrey Hills. Tru Life purchased this property in September 2022 for $260,000 and completed a top-to-bottom renovation in just 70 days.
The renovations included removing multiple walls to open up the floorplan and the conversion of a pantry closet into a butler's pantry to expand the gourmet kitchen. Upgrades throughout include all new flooring, cabinetry and fully renovated bathrooms. The finished lower level is complete with a full bathroom, family room, and a wet bar inside the suite. The home also features a walk-out basement.
This professional renovation resulted in a February sale of 2023 of $425,000.
Pro Tips for the Investor Community:
When working on renovations it’s important to keep in mind scheduling and aligning the process on which trades go first.
Focus on breaking everything down first then build it back up starting with electrical, plumbing, framing. Get your baseline in perspective then place all your walls back up so that now you can move into your carpentry/finishing work.
Take things that look big and chunk them into small pieces to simply each project.
As the real estate market begins to normalize, staging is emerging as a critical piece in the puzzle to achieving a top dollar sale. Staging goes beyond selling real estate. It sells a vision into a lifestyle that can be had within the walls of the real estate.
Cold weather tip: Staging adds an inviting warm and cozy ambiance to vacant winter homes that otherwise become drafty and cold. That first impression sets the tone for the rest of the showing experience.
-Jo Potvin, Design to Market
While Jo & Justin did not collaborate on this project,
DtM is always there to offer valuable pro tips
Justin's project management advise also lends a hand to effective project budgeting. Breaking down every part of the project while budgeting allows for a more comprehensive and realistic budget. Don't forget to budget for hard and soft cost (staging included).
Spring Valley is your local community bank offering our investors SOLUTIONS:
Quick decisions with in-house underwriting
Certainty to close
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
If you know an investor that may benefit from the flipping advise of seasoned professionals, please share this blog with them.
Before & After:
Special thanks to:
Realtor, Melissa Smith
Keller Williams Advisors
Photographer, Cincy Visuals
A monthly series showcasing tips from professional property flippers partnering with Spring Valley.