What profit threshold does the speaker use to decide against major renovation?

Steve D ValentineReal Estate Mentor

Flip it vs AS IS #flips #flip #shortvideo #shorts #short #realestate #money #investing #house #tips

5 Sept 2024 · 1 min

Watch on YouTube

0:41

Steve D Valentine explains a practical decision framework for residential real-estate investing: always inspect, scope, and get bids before any work; use simple profit thresholds to decide whether to fully renovate (flip) or minimally prepare and sell as-is. He prefers quick wins (e.g., ~$10,000 profit; sometimes up to ~$20,000) and will 'lipstick' a property or assign it off-market rather than deep-renovate when numbers are tight. The clip contrasts flipping versus selling as-is and emphasizes avoiding projects with hidden costly issues (sewer, roof) that blow the budget.

Questions this video answers

About $10,000 (sometimes up to $20,000).

Chapters

Everything has to be inspected, scoped, bid before anybody touches anything. Because I've had too many things where a sewer line is bad, a roof is wrong, and the budget goes over and we end up losing money because we're so deep into it, versus I'm going to spend the next 30 days trying to throw it out there. And my goal is like, if I can make ten grand and not mess with everything, I will. I'll move on if the numbers are that good. Or maybe I make 20. It's just a theory that we've used. It's like, when I find something that wasn't on mls, it's off market. I may go find somebody else I can connect with and go, I've got too many projects. Let's bring some income in, get rid of this and then continue that. So we've just come to the point that unless something has a lot of money to be made in it, we'll lipstick it and let somebody else, like, we'll clean it out and put it back on the market as is, or something of that nature. If the numbers are kind of tight.