Flip without doing any work?

[David Robertson]

There is a house that is up for auction that does not need much of any work. I think the house might go for $130k. I was told by the agent that she would list the house as-is at $189k. I ran some comparables and I think conservatively I might be able to sell it at $170k without any repairs, and $180-$190+ with some bathroom remodels and minor cosmetic repairs.

I'm curious, has anyone ever bought a house, done little to no work, and immediately put it right back on the market?

It sounds similar to a wholesale strategy, but I am not trying to reassign the contract to an investor, but sell the property to an owner occupant.

Any thoughts?

Thansk.

[Brian Burke]

I've done it many times, primarily in 2009 when everyone was scared to buy any real estate so discounted property was just "falling from the trees".

That doesn't happen so much anymore. The trend seems to be shifting away from "lipstick flips" into more involved "value add" rehabs, but that doesn't mean that it is impossible. Rare, yes, but impossible, no.