We sold five flips last year and our goal is to scale this side of our business to 1-2 projects per month. Here are the highlights and a few before and afters from some of our recent renovation resale projects. Enjoy!
Poplar
403 E Poplar Road, Sterling
Cozy, one-level rambler with three bedrooms and two baths
List Price: $459,900
Sold Price: $475,000
Sold Date: January 2021
Lessons Learned:
Windows take forever. We ordered new windows for this property the week we bought it back in July 2020. As the remodel was coming to an end, we had to make some tough decisions about continuing to wait or completing the house and listing it. When it finally closed in January, two windows still never had come in and as of writing this, they still haven’t!
Point Bay
44895 Point Bay Terrace, Ashburn
Spacious, three-level townhouse in a desirable neighborhood
List Price: $499,900 (never listed, sold off market)
Sold Price: $510,000
Sold Date: March 2021
Lessons Learned:
Our network is one of our biggest assets. We bought, renovated and sold this flip in just over three months. That’s a record for us for the scope of work we did here! One factor that made that timeline possible was our network of contractors and agents. We were able to quickly mobilize the right team of professionals to complete the work and were working with a fellow Property Collective agent on a potential buyer as the renovation was wrapping up. These connections allowed us to sell the home for top dollar quickly, without spending a day on the market.
Greenfield
219 Greenfield Court, Sterling
Two-level townhouse in transitioning community
List Price: $399,900
Sold Price: $402,000
Sold Date: April 2021
Lessons Learned:
Open the boxes. It sounds so obvious but the kitchen cabinets were delivered to the house weeks before they were ready to be installed. When install day arrived, it was discovered that the cabinets were an unplanned mix of gray and white, and some were damaged.
Pro Tip: Open deliveries immediately to check to make sure you received the right thing and that nothing is broken.