All Forum Posts by: Mike Dmuchoski

Thanks!  I had a few more showings this weekend and serious interest from one of the groups.  I'll update everyone when I know more.  

Happy holidays.

Many thanks, @Morry Eghbal .  There is still room to negotiate but that is a hefty agent bonus!  I've actually already been offering a $1000 agent bonus upon close of escrow before the end of the year, as it was my goal to have it closed by then.  We're approaching the holiday slowdown so I'll reconsider my options after the new year.  

I assume you are deeming what is "acceptable" with your strategy?  Have you had a positive response from this approach?  Seems like there is a lot of subjectivity in there.

Thanks and appreciate it, @Morry Eghbal .  Asking price has been reduced to $245k after about 50 days on market.  It's a trendier section of Phoenix where the highest returns come from trendier finishes.  "Beige and khaki" remodels don't always fair as well.  I've included a few comps below.  These are only the closed - there are a few pending and active listings as well.  Let me know if you'd like more info.

@Steve Babiak That would've been a costly change to the existing layout and unfortunately wasn't in the budget.  From memory, the bedroom is roughly 10'x10'.  It would fit a king bed but uncomfortably.  A queen bed would fit nicely with some side tables, and the closet is big enough (has large sliding doors) to store a dresser.  Note the largest bedroom is approx 12'x10' so none of them are huge!

Thanks, @Dick Rosen ,@Morry Eghbal , and @Alana M. I actually agree with all of your comments which is why it makes it tricky.  I have done some light staging in other rooms, e.g. living room, kitchen, bathrooms, to highlight other features (see pics). 

Hello BP'ers,

I've recently completed a flip property and have it on the market in Phoenix, Arizona.  I've been diligent about gathering feedback from agents after showings and potential buyers during open houses (I'm also a realtor).  An item that has come up several times is that the master bedroom is small.  The home is a 3/2 and not very large at 1300ft2 so none of the bedrooms are very big, but the master is the smallest bedroom.  It has a bath attached so it's considered the master.  

Is it worth the time and expense to stage the master to show what else, besides a bed, the room might be able to hold?  If you were a homebuyer, would it matter to you?

Thanks in advance.

@Morry Eghbal Amen to your last statement!

@Rick Ramus You can negotiate lower commissions (% or flat) if have a relationship with an agent and can bring multiple deals, otherwise just many things...you get what you pay for!

I love the entrepreneurial spirit but when I read the article I said to myself, "so what?!"   There are so many flipper, landlord, and wholesale investors searching and marketing for off-market properties here in Phoenix, there isn't much that is novel here.  They at least have a ways to go to develop a real brand.

The biggest is the AZREIA http://www.azreia.org/.  They meet monthly with good speakers and many opportunities to network with investors and vendors.  They also have subgroups that you can join for niche investing, e.g. flipping, rentals, new investors

Hope it helps.

Welcome to BP! You'll find a ton of great info and contacts here, especially in the Phoenix area.  And the podcasts are fantastic. 

All the best to you and good luck on your journey.