Has anyone taken Marco’s luxury home course or seminar? I am real interested in it because he says he is making $200,000 flipping a luxury home vs. $20,000 for a low end rehab which most people do. Does anyone do luxury home rehabs here? Thanks, Mike
Luxury homes are probably the best rehabs in my opinion. The buyers are very discriminating and will turn their nose up at anything that isn’t perfect which leaves plenty of room for you to step in and make it perfect. There is always room for improvement in high dollar houses. Often the sale prices have little to do with the market and more to do with how much the buyer likes the property.
When doing high end rehabs, have some extra money for holding costs. You will hold them longer and it will be much more expensive to do so. $200k per deal is a modest number depending on how high end your going. Salaries, taxes, vehicles, insurance, interest payments, etc, etc. would eat me up if I wasted my staffs time on $20k rehabs. Also I think it’s much more fun to rehab mansions than something like a rancher.
I’ve never heard of the Marco’s luxury home course but it couldn’t hurt to check it out.
Danny, I sent you a PM.