Opinions on doing a partial flip?
Hey all,
This is my first post on here. I was brought here after reading "The Book on Flipping Houses" (haven't quite finished it yet, but it's great!) and I am currently in search of my first flip. Yesterday I toured a potential property, and after seeing it inside and speaking with the listing agent, I confirmed that the house will need a lot of work to get top dollar on the re-sale. However, I might be able to make a profit if I can get them to agree to a lowball offer and then rehab the place just enough to re-sell at a slightly less than top tier price point. When I think of flipping, I always think of trying to rehab a house to get it into that top tier resell value. I was wondering if anyone out there has ever attempted this kind of "half flip" as I guess you could call it, and if it is a bad idea to try something like this on my first flip. Any advice is appreciated. Thanks!