FREQUENTLY ASKED QUESTIONS
How can I be confident FlipGreat will make me money?
We only make money when you make money. FlipGreat only participates in the profit we create above the agreed to as-is value of your home so our interests are 100% aligned to increase the value of your home as quickly and cost-effectively as possible so that we both make a profit.
There are three main reasons you can trust in the quality of our work. 1) Compensation structure. Our compensation is directly tied to the profit we create. This not only means we must do quality work, but also that we must do quality work in a cost-effective way so that there is a profit. 2) Track record. Since 2010, we’ve made money on every project. 3) Industry recognition. Our founder has been featured in the Wall Street Journal, Los Angeles Business Journal, and has been invited to speak at the nation’s largest conference on home investment six years in a row.
How is FlipGreat different than a general contractor?
General contractors make a profit by charging you a premium on the labor and materials they provide. That means general contractors do not have an incentive to finish quickly or keep costs down, which often puts the interests of the general contractor at odds with the homeowner.
FlipGreat only makes money when we make you money by increasing the value of your home. Unlike contractors, we never mark-up our labor or material costs. Our interests are completely aligned with yours—and it is in both of our best interests to complete the renovations on your home as quickly as possible and in the most cost-effective way to maximize the profit you earn.
How is FlipGreat different than a flipper?
Traditional flippers typically buy distressed properties from sellers who need cash immediately due to financial hardship. The flippers then renovate the property and sell it at a profit. Although flippers may solve the seller’s immediate problem, there is no benefit to the seller after the initial transaction.
FlipGreat partners with all types of sellers by splitting the increased value we create with the seller. This allows the seller to share in the profit the traditional flipper would have kept for themselves.
How is the Homeowner Bonus calculated?
Homeowner Bonus = [Sale Price – (As-is Value + Renovation Costs)] / 2.
For example: Let’s say we agree to an as-is value of $1,000,000; FlipGreat spends $150,000 on the renovation; and your home sells for $1,400,000. Your Homeowner Bonus would be $125,000 [$1,400,000 – ($1,000,000 + $150,000)]/2.
In this example, you would earn a total of $1,125,000 (the as-is value plus the homeowner bonus).
What if I do not agree to the as-is value?
If you don’t agree with our assessed as-is value of your home, we recommend you let us list your home for sale as-is and see if you get the price you want. If you don’t get an acceptable offer, we can take your home off the market, complete the suggested renovations to increase your home’s value, and put more money in your pocket.
What if I need to sell my home immediately?
No problem. We are here to help you in whatever way works best for you. If you need to sell immediately, we can structure a sale that allows you to sell your home to us on your timeline and still potentially participate in the profit earned after we renovate your home. Regardless of your situation, we have a program that earns you more money than selling as-is or to a traditional flipper.
How long do the renovations take?
On average, our complete home renovations take 88 days. Obviously, the size and scope of the project will determine the actual time required. After a consultation with a FlipGreat project manager, we will provide a detailed renovation plan and estimated timeline for your project.
Can I live in my home during the renovations?
Unfortunately, no. In order for us to renovate your house as quickly as possible, we need the property vacant so that we can coordinate multiple trades working throughout your home at the same time.
We understand that not being able to live in your home while we renovate it may mean you need to pay to live somewhere else while continuing to pay your existing mortgage. To prevent hardship to you, FlipGreat can pay your existing mortgage directly to your lender for the duration of the renovations and sale process.
Can I choose the colors, flooring, etc. for my home’s renovation?
Unfortunately, no. We work with professional designers to curate a look and feel that buyers want in your area to help maximize the after-renovation sale price. We also have relationships with vendors that allow us to procure materials and fixtures at below retail prices. All of this enables us to create a custom feel and synergy throughout the home while keeping costs low to maximize the profit you earn.
Will FlipGreat list my home for sale?
Absolutely. If you don’t already have a signed listing agreement with a realtor, FlipGreat will list your home for sale once the renovations are complete.
If you have already contracted with a realtor, we will work closely with your realtor and provide any guidance or advice to ensure a smooth, stress-free sale.
What if I do not want to sell my home after the renovations are complete?
We truly appreciate the compliment. If you decide you want to keep your home after our renovations, you must really love what we did. In this case, we will have the home appraised and you can simply reimburse us for the cost of renovations plus the profit we would have received had you sold the home at its new appraised value.
What areas do you service?
Los Angeles County, Orange County, Ventura County, Riverside County, and San Bernadino County.
Let us flip your house BEFORE YOU SELL!
Contact us today to see how much additional cash we can put in your pocket.