We Weren’t Looking for Another Flip — Until This House
We honestly weren’t looking for another flip. We hadn’t done a rehab in almost two years, and after a few rough rehab experiences, I’d been steering us away from them. Then this house came along, tucked away on a quiet cul-de-sac in a really nice, established part of Central Arkansas, and it was just too good of a deal to pass up. In this episode of the Relentless Growth Podcast, I walked through why we took it, what scared everyone else off, and how we’re approaching it. Here’s the breakdown.
The Deal That Was Too Good to Pass Up
What made this one work was a combination of price, location, and motivation. It was a very fairly priced house in a super nice neighborhood, and the seller was distressed. They’d already found another home they wanted to buy and needed to sell this one as quickly as possible, as-is. The reason was simple: the house had too much deferred maintenance for them to keep up with. That created an opening for us. When a property is priced right and the seller needs speed and certainty, that’s exactly the kind of situation where a good deal shows up.
Why Everyone Else Passed
This house had roughly 50 years of deferred maintenance behind it, and once you start peeling things back, the issues add up. We knew going in there were rotten subfloors and some foundation problems. That’s a big part of why it was hard for the seller to move it on the MLS; most buyers see those words and run the other way. But here’s the thing: because we’re doing a full gut renovation anyway, tearing it back that far means it’s not a big deal to go ahead and fix those issues correctly. The problems that scared off other buyers are exactly why we got the price we did.
The Plan: An Exit That Works Either Way
Our plan is a full gut renovation to turn it into a beautiful home in a great neighborhood. Then we’ll list it for sale, like we’ve done in the past. But here’s what de-risks the whole thing: if it doesn’t sell within about 45 to 60 days, it also makes a great rental. We’d be happy either way. Having two solid exits, sell or rent, takes a lot of the pressure off and is a big reason we felt comfortable taking on a property most new investors would skip.
The Lesson for New Investors
The takeaway here is that the best deals often look the scariest on the surface. Deferred maintenance, foundation concerns, and a house that’s been sitting can mask a genuinely good opportunity, as long as you actually know what you’re getting into and you’ve run the numbers. The flip side is real, too: if you don’t have the experience to accurately estimate those repairs, a project like this can hurt you. Know your numbers, build in a backup exit, and don’t be afraid of a property that everyone else passed on for the wrong reasons.
At Apex Professional Construction, we handle full renovations and new construction across Central Arkansas, and we know how to evaluate a property honestly before anyone commits. If you’ve got a house you’re trying to figure out, or a project you want done right, give us a call at 501-500-5177 or request a quote.