Flipping houses in Beverly Hills, CA isn’t just about visualizing how to change a home; it’s also about being able to actually sell the house when you’re done renovating. Whether it’s your first flip or your 30th, having an experienced real estate agent on your team can boost your likelihood of success significantly.
1. I can negotiate
When you’re flipping a house, your initial instinct is to think about what physical transformations the house needs to go through instead of your overall bottom line. A real estate agent can negotiate the price of a home you want to flip, which can give you more wiggle room for your renovation budget (and give you more overall profit).
“A lot of people will ask me, ‘Why don’t you guys get a real estate license?’ but I am more convinced than ever that Marc is worth every penny,” says Nick. “He basically taught us how to flip. He’s also a pretty tough negotiator, and aggressive. My partner and I are not. We’re wimps, and it’s good to have someone who can do that for us on our behalf.”
2. I help determine if the numbers work
In the beginning, I explained the whole flipping process to Nick and his partner since they were new to the game in the Los Angeles area. Now, they mainly work together on the buying and selling process, which involves lots of budgeting.
Through numerous flips in Beverly Hills, they never had to lower their listing price. That’s in large part thanks to having a good pulse on the market and where to be priced accordingly, along with my networking skills and my ability to crunch numbers quickly.
“Before we even buy a house, he helps us figure out a price point and helps figure out a price point that we need to sell it at,” says Nick. “If those two numbers aren’t working in the beginning, we won’t pursue it.”
Working with me also holds the team accountable: “We don’t cut corners in the renovation just to get the job done faster or cheaper”, Nick says.
Additionally, I give my client advice on determining the most buyer-friendly solutions in their designs. That helps them in the eventual marketing and selling of the home.
3. I help you reach the finish line
At the end of a project, a real estate agent can feel like a lifeline to a flipper. Renovation shows on TV may make it look easy, but flipping involves a lot of hard work and tiring days. If you’re doing both the renovation and the real estate work, it can feel overwhelming. A real estate agent is just starting his part of the work when you may feel like you’re absolutely spent on a project.
“One of the many reasons we would never want to be our own agent is because at the end of a project, we’re exhausted and burnt out. We’ve worked long hours,” says Nick. “But then we turn it over to Marc, and he’s fresh and excited because he’s just starting.”
To work with a real agent in Beverly Hills with construction and flipping knowledge, please contact Marc Elkaim at (310) 367-1830 or email Marc@MarcElkaim.com