What's your strategy for Fix & Flipping DUPLEXES?

Question

I recently closed on a duplex ni Leon Valley and I'm looking into the best strategies to fix & flip rather than buy and hold. Is there any strategy where this would make sense or is buying and holding typically always the best way to go? If you are into buying and holding I can also run it by you!

Jaron Walling · Answer

@Matt Agnew Flip one of the units with quality stuff, knock out big ticket items, and then list the property as the a value-add opportunity. The second unit is an "unrenovated blank canvas" perfect for anyone looking to "house-hack and reduce living expenses."

Think about your end buyer. Remodel accordingly.

Kevin Ivey · Answer

Typically your buy and hold investors are looking for a deal to create cash flow or force their own value add.  So very different buyer and margin.

A house hacker might value a move in ready duplex.  Or look at condominium redefining the property to a 2 property condo.  More places are allowing this in an effort to encourage dadu

Matt Agnew · Answer

Wow this is great advice Jaron I appreciate that. This is actually the strategy I think I'm going to go with about to deep dive into some research and I'll reach out to pick your brain about what I come up with! Thanks!

Ko Kashiwagi · Answer

The remodel required for a flip is typically different than a hold. Typically you want a better upgrade on a flip to target retail buyers who will pay top dollars. On a hold, you optimize cost to get the best appraised value while keeping costs down.

What are the numbers looking like?

Matt Agnew · Answer

That makes sense! Bought for $240K potential rent is $2700 & needs about $25/30K in work! I'm thinking I should probably let it go to someone that knows the game little better!

What's your strategy for Fix & Flipping DUPLEXES?

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