Janalle B.

Life was calling Janalle away from her long-time townhome in Long Beach. Retirement was in sight and it was time for a new chapter to start with her daughter out in Las Vegas. Relocation can be a stressful time, from packing your life up to coordinating sales and purchases of new properties. There can be a lot of moving parts that get jumbled up in the process.

Knowing that she’d have much to worry about, she wanted the sale of her current home and purchase of her Vegas home to be simple. She didn’t want to deal with having people come in and out of her house for showings or risk buyers backing out in escrow. So she turned to FlipSplit to make sure this process was hassle-free.

Coordinating Purchase of a New Home in Vegas

One of the trickiest parts of moving is when you need the cash from your current home to purchase a new property downstream. It’s no easy feat to line up the sale of your current home in a traditional sale with the buying of another home.

This is where Janalle needed additional help facilitating this often complex transaction. With FlipSplit, she was allowed to choose her closing date, which left her free to go find the home of her dreams in Vegas knowing she could close on her Long Beach home in time to use those funds for the purchase of her new property.

“Everything was easy!”

Staying a Few Extra Days

Typically, on the day you close escrow, your house needs to be vacant for the new owners to move in. But Janalle was hoping to complete a few necessary upgrades on her new Vegas home before moving in. She came to us with this request hoping we could lend her a hand.

“I needed to stay in my house an extra few days. We worked it out, no problem.”

She was able to complete all the necessary upgrades she was hoping to make to her new home which made the move feel smooth and painless.

Janalle’s Upside Potential

Here are Janalle’s FlipSplit numbers:

Offer Price: $390,000
Participation Benchmark Price: $493,470.82
Split Agreement: 50%

The main issues with the home were purely cosmetic. The home was well taken care of but like any home that is lived in for a long period of time, most features were outdated. So to maximize this property’s economic value, it was time to get to work on making everything brand new!

What we did:

☑️ All new bathrooms
☑️ Brand new kitchen
☑️ Interior Paint Job
☑️ Brand new wood floors throughout the entire house

Final Results

Flipsplt resold her Long Beach condo for $555,000 placing her $61,529.18 over her profit participation benchmark price. With the FlipSplit pledge in place, she was eligible to receive 50% of that bonus “excess” profit. Leaving Janalle with a final bonus check of $30,764.59.

How did Janalle sum up her experience with FlipSplit?

“Absolutely wonderful! Stephen and Brandon were very professional and easy to work with. The process was simple and the profits were more than I expected without any of the fees and remodeling costs.”