Mursalin came to FlipSplit looking to get top dollar for his property. He had been subletting his home to a rental company who had added additional walls in order to maximize rooms and rental space.
Though this was successful in the midterm, selling on the open market would be nearly impossible due to the fact that the layout was not conducive to a single family. As well as the tenants turned hostile in the middle of an eviction moratorium.
“We had a problematic tenant who was cooperating one day and another day was totally ghosting us. There was no way a regular transaction would have gone through as tenants were hindering inspections, appraisals and other activities.”
So FlipSplit needed to figure out how to give him top dollar upfront and take over a bad tenant situation.
“Selling a house is stressful, none of the stress came from FlipSplit.”
We closed in under 10 days while taking the hostile tenant situation off of Mursalin’s hands so that he and his wife could have their money upfront and let us get to work.
The Upside Potential
Here are Mursalin’s FlipSplit numbers:
Offer Price: $1,101,000
Participation Benchmark Price: $1,300,000
Split Agreement: 40%
“Even with all the renovations you planned on doing, $1.35M was the upper bound of what we expected.”
It’s no guarantee we’ll exceed our projections and be able to send our customer’s bonus checks, but we do everything in our power to make this a reality.
So it was time to get to work on what needed to be done to maximize this home’s value and get Mursalin a bonus check that would even exceed his expectations. So what did we do? Here are the high-level bullet points:
☑️ Worked quickly on a tenant resolution to vacate the property
☑️ Knocked down living room wall to make living and family room an more open
☑️ Brand New Kitchen and Bathrooms
☑️ Exterior and Interior Paint Job
☑️ New Appliances throughout
Mursalin received a final bonus check of $43,167.24 from FlipSplit.
“At the end, we are happy, from the proceed, from the bonus, from the stress free experience. FlipSplit is not a regular investor, they believe in win-win for them and you. They will take care of you, they will take care of your property and make you money.”
Happy seller, that’s what we’re shooting for!