Serving Austin Texas & Surrounding Areas

 'FLIPPING' A FORMER RENTAL PROPERTY

When All Is Said and Done, A Successful Sale Comes Down To True Professionals Putting Their Trust Into A Proven Process.

When you really stop to think about the commonalities between the real estate transactions that “just work” and those that feel like you’re pulling a two-ton sled up a steep hill, it all boils down to one thing. The people you're working with. 

MEET THE CLIENTS:

Our relationship with this Seller goes back several years. In fact, she and her husband have referred nearly ten other clients to us over the course of time. Childhood friends, family members, coworkers ... it’s run the gamut. 

Their second generation referrals span well beyond that too.

Folks like these are the lifeblood of our business. Our kind of people. And not just for the obvious reasons. What truly makes them special is that despite their personal and professional success, they never assume that they’re experts. Rather, they approach the situation as “the student,” with eyes wide open.

Willing to follow the lead. 

THE SITUATION:

Fifteen years ago our client purchased her first home, out in Star Ranch. She lived there for just over twelve of those years before deciding to purchase a condo and move closer to work.

In doing so, the one story in Star Ranch was converted to a rental, always with the intent of selling it prior to the expiration of the IRS “Two in Five” rule (i.e. avoid paying capital gains on a property she owned outright).

We met back in March to start formulating a plan.

The renters would be out at the end of May. We’d go in and “execute the approach.” We’d have the house on the market by the end of June and position ourselves to capitalize on the “summer market trends.”

Well, it didn’t necessarily happen that way. 

For starters, there were some complications in getting the renters out ‘on time.’ Communication issues with the property management company followed. It was the end of June before we even got in to see the house. The first time the owner had laid eyes on the interior in two and a half years.

It wasn’t pretty … Dog-chewed door frames. Gashes in the wood floors. Splatter paint on the walls (yes, splatter paint). Broken appliances. A busted sprinkler system and neglected backyard …

You get the picture.

THE OPTIONS:

So the question then became, what do we do about this? She had budgeted about five thousand dollars to get the house ready to sell. But it was clear, upon diagnosis, that was only going to make a small dent in the project. Furthermore, the clock was ticking. The home needed to be closed by the end of October in order to meet the IRS deadline.

She has an important decision to make.

Option #1 — Sell The House As-Is. Since, in this case, time truly was “of the essence,” she could consider selling the house ‘as-is.’ The final sales price would almost assuredly end up being less than she anticipated but that option may provide a little more breathing room when it came to the looming deadline.

Option #2 — Do The Bare Minimum. We could touch up paint. Make minor repairs. Mow the lawn. Replace a light bulb or two, here are there … you know the kind of stuff that many “traditional sellers” consider a “make-ready.”

Option #3 — Bring The House Back To Life. Work with our Execution Team to bring the home to life and extract maximum profit … A strategy that has proven to sell homes faster and for more profit, regardless of time of year.

THE DECISION (AND RESULTS):

After careful consideration, she decided to go with Option #3. 

“I have full faith in your system.”

Those were the words directly from her mouth when, after nearly six weeks of work, we finally put the ‘For Sale’ sign in the front yard in the middle of August. We could tell that she wanted the house sold, like yesterday, but she knew as well as we did, that shortcuts rarely get you where you want to go.

In this case, not only did she contract to do the work necessary to engineer max profit but she wisely chose to have the property pre-inspected first. It harkens back to one of our first principles: Avoid Fundamental Mistakes, (i.e. self-inflicted wounds) especially when the remodel project is extensive.

There is nothing more frustrating than spending thousands (if not tens of thousands) only to discover, during the buyer’s inspection, that there was a nearly fatal flaw that should have been addressed upfront or instead.

The result? We beat the October deadline with almost a month to spare. 

When you really stop to think about the commonalities between the real estate transactions that “just work” and those that feel like you’re pulling a two-ton sled up a steep hill, it all boils down to the people involved. Professional people putting their trust in a proven process. In this case, the Seller's commitment was steadfast. Even when the project escalated to levels she never anticipated, she continued to stay the course.

It’s a trait that I see that is common in almost all successful people I know. They do what needs to be done, to get the job done, whether they want to do it or not.

And to be honest, this sales process was not all rainbows and unicorns. But at the end of the day, it all comes down to troubleshooting and problem-solving. That’s our entire back end approach, in a nutshell.

And fortunately we’ve aligned ourselves with some of the best. Professional people delivering a proven process.

Here’s the truth … Most homeowners hope for a profitable outcome but too often, many are not willing to do the work required to ensure that “hope” becomes a reality. It’s the willingness to do so that sets our clients and their results apart from the average homeowner.

ARE YOU READY TO MAXIMIZE YOUR PROFIT?

 Request a Complete Property Diagnosis So We Can Help You Determine the Best Prescription To Increase Your ROI.

Are You . . .
Looking to Sell?

At Three Pillars Realty, we offer options depending upon what you value most in the transaction.  

EXPLORE YOUR OPTIONS:

Option #1: Maximize Speed
Option #2: Maximize ROI

CLIENT TESTIMONIALS
Helping Sellers On The Move
"Ryan listed my property on the MLS on a Wednesday morning. By noon the next day, my dilemma was deciding which over-asking price offer I was going to accept. That was a fun problem. I know I’ll never have to stress about real estate in Austin, Texas because Ryan France is on the mound!"
Lauren Neil-Jeffrey
HOME SELLER
"Ryan was the perfect Realtor for us. His advice on staging our vacant house was the most important reason it sold quickly. The sale of our home was a pretty complicated process. Ryan’s patience, honesty and straight-forward attitude were key in seeing this complex processes through."
Ankur Jain
HOME SELLER
"Once my house sold (above asking), I got a call from Ryan asking if I had a favorite charity for which he could make a donation to commemorate the sale. I was slightly taken aback ... then I realized that I shouldn’t be surprised at all. Not only is Ryan a good Realtor, he’s an even better human being."
Dale Blandin
HOME SELLER
"Ryan displayed complete professionalism and was always prepared. His skill at marketing was superb! The house was under contract within a week of listing! He knew where to focus efforts for the best results and he is very detail-oriented. I highly recommend him."
Luke Childress
HOME SELLER
"Ryan and his team were very helpful in making my condo stand out and sell quickly. He was proactive & effective in his communications. I always knew what to expect and where we were in the process. Ryan is the consummate
professional. You will be in good hands."
Laura Tomlinson
HOME SELLER
"Ryan had our house under contract in less than 48 hours, with 6 offers. Many of the Realtors commented on how the house was “staged and priced perfectly” thanks to Ryan’s advice. Ryan was extremely easy to communicate with and made the process of selling of our house as easy as possible."
Shelly Weathers
HOME SELLER
HELPFUL LINKS
BROKER CONTACT INFO
TEXAS REAL ESTATE BROKER #9004679
  •  512-773-3493
  •  Ryan@RyanFrance.com
COPYRIGHT ©2022  ALL RIGHTS RESERVED - THREE PILLARS REALTY  
COPYRIGHT ©2022  
ALL RIGHTS RESERVED - THREE PILLARS REALTY  
 EQUAL HOUSING OPPORTUNITY
  EQUAL HOUSING OPPORTUNITY