The Icing On the Cake: Why your Finishes are So Important
This week’s topic has me so ecstatic because this topic is something I am actually an expert in, so much so that I founded a business modeled around it!
The featured topic is...
Fixtures and finishes!
Why are the fixtures and finishes of your flips so important and how exactly do they affect you as a fix and flip real estate investor?
Fixtures and finishes in a residential property are basically the icing on a cake, they are the pretty, eye catching selling points that make your property stand out so that your flip is not a total flop!
For example, finishes in a kitchen typically consist of light fixtures, cabinet hardware, counter tops, plumbing fixtures, paint colors, trims, flooring, tile, certain appliances like the range, and even cabinetry. As a real estate investor who is trying to make a profit on your flips, you can’t afford not to pay attention to this area of your rehab.
One of the things I have vision for is selecting finishes that sell. As a real estate investor, that is your biggest concern when flipping a property…HOW FAST WILL IT SELL?
At REI Design Solutions we curate your finishes in a way that brings a stylish, cohesive and inviting look to any property. We package the selections together in a document that includes everything an investor needs to get that property looking fabulous…even installation details to really go the extra mile.
That is where more than a designer touch comes in, but we’ll get to more of that later because right now we are going to focus on the fixtures and finishes themselves.
A HUGE problem I see in flips, that make them a total flop AND cause them to sit on the market too long is, cheap, tacky and downright UGLY finishes and fixtures
…listen, put yourself in the shoes of the potential buyer.
Your job is making their life easier.
The last thing they want to do is buy a home that they know they are going to have to make some improvements on before or after they move in.
You ALREADY DID THAT!
Don’t leave things for them to do!
Put hardware on the cabinets…
Install a decent looking chandelier over the dining room table…
Make a statement with a bold kitchen backsplash because the other thing you want to do for the buyers is to give them the gift of status.
What do I mean by that?
Status is so important to people. Whether they acknowledge it or not.
STATUS noun, often attributive
sta·tus | \ ˈstā-təs , ˈsta- \
1a: position or rank in relation to others
b: relative rank in a hierarchy of prestige especially : high prestige
Our home is one of the biggest indicators of our status. What are we thinking when we are decorating our home or when we are looking for one to buy or when we are putting together a meal or a party for a loved one where we are inviting guests….for most of us, we LOVE when people compliment us on our home. So the last thing we want when we are walking a home as a buyer, is for it to scream ugly, uninspired, cheap, boring, etc.
We will not buy it.
And neither will buyers.
They will keep looking, waiting for that one house that calls their name. The one home where they can envision hosting their parties, relaxing after work, enjoying family.
Something that DIY real estate investors are continuously failing at is selecting finishes that speak to buyers need for status. Instead they often allow their contractors, buddies, or family members to make the selections for their properties.
Just like the icing on the cake, fixtures and finishes are the “decoration” of the home. They define the style of the home and create the overall feel that potential home buyers will be shopping for. That’s why it is so important for my DIY fix-and-flip friends to understand that budget friendly does NOT mean, CHEAP, tacky, crappy, or just UGLY!!!!
Are trendy, stylish yet neutral finishes the only thing that sells houses? NO, BUT if done poorly, they can hold up the sale of your flip by causing potential homeowners to flee or worse yet, not even schedule a showing in the first place if that property shows no promise during their online searches.
Don’t let this be your property!
In single family homes sales, nine times out of ten the wife is pulling the trigger when it comes to selecting the home, and it’s 2019 guys… EVERYONE has a Pinterest Board of their DREAM HOME. That’s why as a designer I market my design and curation skills to help people select on trend, fabulous finishes and fixtures without appearing cheap.
On WTFL this week we were talking all things FINISHES!
On our REI Design Solutions Facebook page we have been sharing some of our favorite Finish Boards with you. These Finish Boards are a part of the whole Finish Package that we provide our clients to give them guidance on what to put in their flips so they don't FLOP.
So don’t worry about if your flips will be too ugly to sell…we’ve got your back!
These packages are sourced by me and my design staff and will make all the difference in how your property stands out against the competition and better yet, these finishes are what will make potential buyers swoon over your rehab and want to make it their HOME!
In this webinar I provide a little behind the scenes look at one of our curated Finish Packages for our clients!
If you feel you need help ensuring your property flies off the shelf set up a complimentary consultation call today!
▸ Design Solutions for Real Estate investors SURVEY
Please take a moment to go to our survey and let us know what your biggest needs are for your flipping business! https://www.surveymonkey.com/r/reidesignsurvey
▸ REI Design Networking and Education FB Group
We stared a new Facebook group where we talk shop about all things design, construction for flipping houses. Join us today! https://www.facebook.com/groups/REIflippingsolutions/
▸ REI Design Finishes Spreadsheet Template
For my DIY investors, who are still selecting your own finishes, check out this handy dandy FREE spread sheet! We use this exact system when selecting fixtures and finishes for our flipping clients because it just makes the overall processes so easy! The sheet is going to help you select and order the appropriate amount of materials, fixtures, and finishes. It most likely will not give you a designer touch when it comes to picking out the actual items, but it will defiantly keep you organized. https://www.reidesignsolutions.com/finishes-spreadsheet
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