Flipping in High Resale Areas
We have a house in Arroyo Grande, CA that we purchased to flip. We are experienced flippers but not in this area. We had done one home in this area last year but with this property found out that our contractor was not exactly being honest with his bids. We have fixed up the property and its on the market for 569,000. Its a small house with a separate "granny" unit (not permitted). We got a terrible offer at 535,000. Instead of walking away with our tails between our legs we are considering taking it off the market and really building it out. Adding square footage...the whole nine yards to try and get close to 1mil resale. Its on a large lot too. However this is not what we are used to doing. I want to know what advise you have.