Best Deal Ever Show #23: When Building a Local Brand Leads to 6-Figure Fix & Flip Profits

Best Deal Ever Show #23: When Building a Local Brand Leads to 6-Figure Fix & Flip Profits

2 min read
Ken Corsini

Ken Corsini is a seasoned real estate investor and business owner based in Woodstock, Georgia. Ken is best known for his role on HGTV’s hit show “Flip or Flop Atlanta,” and has flipped over 800 houses in Metro Atlanta since 2005.

Experience
With over 15 years of experience in the real estate industry, Ken has expanded his original flipping business into multiple independent real estate businesses, including Red Barn Real Estate, with over 180 agents in Metro Atlanta across four offices; Red Barn Construction, a custom home-building company specializing in modern farmhouses across North Atlanta; Red Barn Renovations, a full-service renovation company; Black Oak Mortgage, a direct lending company based in Woodstock, Georgia; and InvestorSumo, a technology company focusing on CRM and data needs for real estate investors.

Having been involved in thousands of transactions and having owned over 800 houses, multiple commercial and multifamily properties, and more, Ken brings a wealth of knowledge and experience to the BiggerPockets community. He has authored over 100 blogs and currently hosts the “Best Deal Ever Show” on the BiggerPockets YouTube channel. He is also the host of the popular Deal Farm Podcast.

Ken is currently writing a book in conjunction with BiggerPockets called “Profit Like the Pros,” scheduled for release in Fall 2020.

He and his wife also run Roc.Star Kids, a non-profit organization focused on the needs of children and families in the fight against childhood cancer. For more information on this very personal cause, check out their story here.

Press
In addition to HGTV and HGTV Magazine, Ken has been featured on The Today Show, People Magazine, The LA Times, Think Realty Magazine (cover), TV Insider, In Touch Weekly, Life and Style Magazine, The Wrap, The Atlanta Journal Constitution, UGA Today, US Chamber of Commerce, PopSugar, Entertainment Magazine, and a number of local periodicals.

Education
Ken has a Business Degree from the University of Georgia and a Masters Degree in Building Construction from Georgia Tech.

Accreditations
Ken is currently licensed as a general contractor (commercial) in the state of Georgia.

Follow
RedBarnHomes.com
Instagram @kencorsini
Twitter @kencorsini
Facebook

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Melisa Clement resides just outside of Austin, Texas—one of the fastest growing markets in the U.S.

Starting Out in Real Estate

Melisa was an art major in college but felt for a time that she didn’t have an outlet for her creativity. After falling in love with the design process of remodeling her own home, Melisa started her journey in house flipping.

She began as an interior designer, which morphed into staging homes for her friend who was in real estate. Alongside that friend, Melisa also began staging homes for other house-flippers in her area.

What was unique about Melisa’s story is that she financed her first house flip by cashing out her home. From there, we asked how she was able to build her business to where it is today (listen to the episode above for all the details). Melisa emphasized the importance of building brand awareness in a number of ways.

Growing a House Flipping Business

First and foremost, Melisa focuses on flipping the worst houses in the best neighborhoods with the best school districts. By following these criteria with three to four homes a year, Melisa has been able to establish a brand for herself, where she’s recognized for her unique style in renovations in the northwest Austin area.

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Related: Best Deal Ever Show #22: How to Turn $100K on an Out-of-State Property

Secondly, Melisa has focused on fostering her community on Instagram, which has helped grow her business and spread awareness about new projects. By being active on social media, she’s been able to build a loyal following—something that’s tremendously helped her designs and work to now be in high demand.

We asked Melisa about her best deal ever and her mindset approaching investments—what we found out might shock and inspire you!

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Melisa says she strives to do a total house flip, spending at least $150,000 on each renovation.

Related: Best Deal Ever Show #21: One Deal, $7M Profit With Sean Conlon

This Investor’s Best Deal Ever

Melisa’s best deal ever was sourced through a local wholesaler who knew she liked purchasing houses within a specific zip code (and neighborhood). This particular home was bought for $507,000.

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The home was priced right, but the downside was that she’d have to wait to start renovating, as the owners wanted a lease back. This house also retained a lot of its original paintings and pieces from the original owner, which turned out to be helpful in providing value.

Related: Best Deal Ever Show #20: $6.5M Purchase with Zero Out of Pocket

Renovations were extensive, spanning from the smaller, fine details to creating an attractive pool. After $150,000 of renovations to perfect the property, Melisa listed the home for $899,000. Within 24 hours, she had multiple offers, eventually selling for $925,000.

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Melisa says the profit was approximately $230,000 after closing costs!

With numbers like that, we were curious to know what Melisa typically advises and does for funding. She revealed that she and her husband purchase properties through multiple retirement account types (three self-directed LLCs through an IRA account and a personal LLC).

Flipping Business Outlook

Melissa has a crew of seven employees with additional subcontractors that work on specific renovations for her projects, including tile, plumbing, and electrical.

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Having done this business model well, we had to ask: “How did you do it?!”

Ultimately, Melisa’s guiding principles are being generous and conscientious in how she deals with people and how she cares for the homes that she renovates. These are in turn the keys to her success.

Additionally, she emphasized that doing renovations the right way—sparing no detail—has helped her build a brand in her region. So much so, that people literally line up for her next flip, knowing that a home renovated by Melisa will be designed and finished to the highest quality standards.

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What was your best deal ever—or the best deal you’ve ever heard about?

Share in the comment section below.

On this episode of the Best Deal Ever Show, Melisa Clement lets us in on her proven strategy for flipping houses to the tune of six-figure profits almost every time. We've never seen someone build a local brand that's grown so huge, like she's done so successfully in Austin, Texas.