A Hard Lesson Learned from Our 2022 "Scary House" Flip

[Jeremy Beland]

Back in 2022, we tackled a property we affectionately called the "Scary House," and trust me, it lived up to the name. The home was in rough shape—think mold, a hole in the roof, and years of water damage. The owner, a family member of one of our buyers, inherited the property through probate, but they weren’t equipped to handle the renovation.

The house had been left in disrepair for quite some time, with the previous owner struggling with mental health issues. It was one of the toughest properties we've encountered. But after working with the family, we purchased it for $42,000 and got to work.

We had some unique challenges, like dealing with one of the heirs who wasn’t very cooperative and required a payoff to sign the paperwork we needed for clear title. We learned a lot from this project.

Looking back, if I knew then what I know now, I would have handled it differently. Instead of flipping the house, I should have wholesaled it—cleaning it out and listing it for another investor to take on the renovation. The project took 6-7 months, and while we made $143,585 when we sold the house for $560,000, we could have made close to the same amount in a few weeks with less hassle.

The big takeaway? Not every house is meant to be flipped by us. For bigger, more complex projects, it’s better for our business to wholesale them to other investors. We’re focusing more on quick flips that match our strengths and allow us to continue delivering value to the community.

This post is a reminder that every project teaches us something, and we’re always learning to better serve our buyers and sellers. If you’re dealing with a tough property, let’s talk. We’ve got the experience and empathy to help navigate even the trickiest situations. 

[Andrew Syrios]

Making over a $140,000 isn't much of a horror story even if it's a "scary house." It definitely looks infinitely better than when you bought it, well done!